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S&P 500   4,569.78
DOW   36,204.44
QQQ   386.32
Are penny stocks worth it? Should you invest in penny stocks?
All the trading advice you’ve ever received boils down to this (Ad)
Why do tech stocks go down when interest rates rise?
Own Dollar General? Hurry and take this advice before earnings
All the trading advice you’ve ever received boils down to this (Ad)
Pure Storage stock fumbles for a rare buying opportunity
Black Swan: this small cap surged over 1000% last week
All the trading advice you’ve ever received boils down to this (Ad)
Snowflake’s bullish tailwind is turning into a gale-force wind
2 energy drink makers to wake up your portfolio
S&P 500   4,569.78
DOW   36,204.44
QQQ   386.32
Are penny stocks worth it? Should you invest in penny stocks?
All the trading advice you’ve ever received boils down to this (Ad)
Why do tech stocks go down when interest rates rise?
Own Dollar General? Hurry and take this advice before earnings
All the trading advice you’ve ever received boils down to this (Ad)
Pure Storage stock fumbles for a rare buying opportunity
Black Swan: this small cap surged over 1000% last week
All the trading advice you’ve ever received boils down to this (Ad)
Snowflake’s bullish tailwind is turning into a gale-force wind
2 energy drink makers to wake up your portfolio
S&P 500   4,569.78
DOW   36,204.44
QQQ   386.32
Are penny stocks worth it? Should you invest in penny stocks?
All the trading advice you’ve ever received boils down to this (Ad)
Why do tech stocks go down when interest rates rise?
Own Dollar General? Hurry and take this advice before earnings
All the trading advice you’ve ever received boils down to this (Ad)
Pure Storage stock fumbles for a rare buying opportunity
Black Swan: this small cap surged over 1000% last week
All the trading advice you’ve ever received boils down to this (Ad)
Snowflake’s bullish tailwind is turning into a gale-force wind
2 energy drink makers to wake up your portfolio

Granite Ridge Resources Stock Price, News & Analysis (NYSE:GRNT)

$5.88
-0.12 (-2.00%)
(As of 12/4/2023 ET)
Compare
Today's Range
$5.75
$6.00
50-Day Range
$5.77
$6.53
52-Week Range
$4.82
$9.62
Volume
688,187 shs
Average Volume
274,905 shs
Market Capitalization
$782.04 million
P/E Ratio
6.46
Dividend Yield
7.48%
Price Target
$8.50

Granite Ridge Resources MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
44.6% Upside
$8.50 Price Target
Short Interest
Healthy
0.62% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.69mentions of Granite Ridge Resources in the last 14 days
Based on 6 Articles This Week
Insider Trading
Selling Shares
$40.83 M Sold Last Quarter
Proj. Earnings Growth
19.54%
From $0.87 to $1.04 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.16 out of 5 stars

Oils/Energy Sector

11th out of 225 stocks

Crude Petroleum & Natural Gas Industry

6th out of 69 stocks


GRNT stock logo

About Granite Ridge Resources Stock (NYSE:GRNT)

Granite Ridge Resources, Inc. operates as a non-operated oil and gas exploration and production company. It owns a portfolio of wells and acreage across the Permian and other unconventional basins in the United States. The company is based in Dallas, Texas.

GRNT Stock Price History

GRNT Stock News Headlines

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GRNT Granite Ridge Resources, Inc.
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See More Headlines
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Company Calendar

Ex-Dividend for 9/15 Dividend
8/31/2023
Dividend Payable
9/15/2023
Last Earnings
11/09/2023
Ex-Dividend for 12/15 Dividend
11/30/2023
Today
12/04/2023
Dividend Payable
12/15/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
3/25/2024

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
N/A
Fax
N/A
Employees
2
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$8.50
High Stock Price Target
$9.00
Low Stock Price Target
$8.00
Potential Upside/Downside
+44.6%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
2 Analysts

Profitability

Net Income
$262.34 million
Pretax Margin
37.93%

Debt

Sales & Book Value

Annual Sales
$497.42 million
Cash Flow
$2.59 per share
Book Value
$4.67 per share

Miscellaneous

Free Float
131,141,000
Market Cap
$782.04 million
Optionable
Not Optionable
Beta
0.13
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GRNT Stock Analysis - Frequently Asked Questions

Should I buy or sell Granite Ridge Resources stock right now?

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Granite Ridge Resources in the last twelve months. There are currently 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" GRNT shares.
View GRNT analyst ratings
or view top-rated stocks.

What is Granite Ridge Resources' stock price target for 2024?

2 brokerages have issued twelve-month target prices for Granite Ridge Resources' shares. Their GRNT share price targets range from $8.00 to $9.00. On average, they expect the company's stock price to reach $8.50 in the next year. This suggests a possible upside of 44.6% from the stock's current price.
View analysts price targets for GRNT
or view top-rated stocks among Wall Street analysts.

How have GRNT shares performed in 2023?

Granite Ridge Resources' stock was trading at $9.03 at the beginning of 2023. Since then, GRNT stock has decreased by 34.9% and is now trading at $5.88.
View the best growth stocks for 2023 here
.

Are investors shorting Granite Ridge Resources?

Granite Ridge Resources saw a increase in short interest during the month of November. As of November 15th, there was short interest totaling 345,500 shares, an increase of 11.0% from the October 31st total of 311,200 shares. Based on an average daily trading volume, of 629,800 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.6% of the shares of the stock are short sold.
View Granite Ridge Resources' Short Interest
.

When is Granite Ridge Resources' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, March 25th 2024.
View our GRNT earnings forecast
.

How were Granite Ridge Resources' earnings last quarter?

Granite Ridge Resources, Inc. (NYSE:GRNT) announced its earnings results on Thursday, November, 9th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.04. The business earned $108.40 million during the quarter. Granite Ridge Resources had a net margin of 29.78% and a trailing twelve-month return on equity of 20.45%.

How often does Granite Ridge Resources pay dividends? What is the dividend yield for Granite Ridge Resources?

Granite Ridge Resources announced a quarterly dividend on Friday, November 17th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.11 per share on Friday, December 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date of this dividend is Thursday, November 30th.
Read our dividend analysis for GRNT
.

Is Granite Ridge Resources a good dividend stock?

Granite Ridge Resources (NYSE:GRNT) pays an annual dividend of $0.44 per share and currently has a dividend yield of 7.33%. GRNT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 48.35%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GRNT will have a dividend payout ratio of 42.31% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GRNT.

Who are Granite Ridge Resources' major shareholders?

Granite Ridge Resources' stock is owned by many different retail and institutional investors. Top institutional investors include Hamilton Lane Advisors LLC (6.24%), Northwestern University (3.73%), Adage Capital Partners GP L.L.C. (1.15%), Maven Securities LTD (0.18%), Northern Trust Corp (0.16%) and Charles Schwab Investment Management Inc. (0.15%). Insiders that own company stock include Grep Gp Iii, Llc, Griffin Perry, John Mccartney, Luke C Brandenberg, Thaddeus Darden and Tyler Farquharson.
View institutional ownership trends
.

How do I buy shares of Granite Ridge Resources?

Shares of GRNT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NYSE:GRNT) was last updated on 12/5/2023 by MarketBeat.com Staff

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