NYSE:GRNT

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

$6.73
-0.11 (-1.61%)
(As of 04/22/2024 ET)
Today's Range
$6.63
$6.85
50-Day Range
$5.67
$6.87
52-Week Range
$5.00
$8.14
Volume
552,220 shs
Average Volume
403,807 shs
Market Capitalization
$877.92 million
P/E Ratio
11.03
Dividend Yield
6.54%
Price Target
$8.50

Granite Ridge Resources MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
26.3% Upside
$8.50 Price Target
Short Interest
Healthy
3.12% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.93mentions of Granite Ridge Resources in the last 14 days
Based on 3 Articles This Week
Insider Trading
Acquiring Shares
$57,190 Bought Last Quarter
Proj. Earnings Growth
21.88%
From $0.64 to $0.78 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.56 out of 5 stars

Oils/Energy Sector

54th out of 237 stocks

Crude Petroleum & Natural Gas Industry

20th out of 76 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. Granite Ridge Resources, Inc. is based in Dallas, Texas.

GRNT Stock Price History

GRNT Stock News Headlines

SHOCKING Crypto Leak…
A shocking leak has revealed tech giant Microsoft's plans to add crypto support to future products. If the plans in these leaked internal documents pan out, we could see prices skyrocket for Bitcoin, Ethereum, XRP and MORE… The coupling of gaming and cryptocurrency could absolutely transform digital finance as we know it in 2024.
SHOCKING Crypto Leak…
A shocking leak has revealed tech giant Microsoft's plans to add crypto support to future products. If the plans in these leaked internal documents pan out, we could see prices skyrocket for Bitcoin, Ethereum, XRP and MORE… The coupling of gaming and cryptocurrency could absolutely transform digital finance as we know it in 2024.
GRNT Apr 2024 7.500 call
Granite Ridge Resources earnings: here's what Wall Street expects
Recap: Granite Ridge Resources Q4 Earnings
See More Headlines
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Company Calendar

Ex-Dividend for 3/15 Dividend
2/29/2024
Last Earnings
3/07/2024
Dividend Payable
3/15/2024
Today
4/22/2024
Next Earnings (Confirmed)
5/09/2024
Fiscal Year End
12/31/2024

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
+25.6%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
2 Analysts

Profitability

Net Income
$81.10 million
Pretax Margin
26.79%

Debt

Sales & Book Value

Annual Sales
$394.07 million
Cash Flow
$2.00 per share
Book Value
$5.05 per share

Miscellaneous

Free Float
128,623,000
Market Cap
$883.15 million
Optionable
Optionable
Beta
0.21
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GRNT Stock Analysis - Frequently Asked Questions

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

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Granite Ridge Resources in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street research 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 analysts have issued 12 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 twelve months. This suggests a possible upside of 26.3% 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 2024?

Granite Ridge Resources' stock was trading at $6.02 at the start of the year. Since then, GRNT stock has increased by 11.8% and is now trading at $6.73.
View the best growth stocks for 2024 here
.

Are investors shorting Granite Ridge Resources?

Granite Ridge Resources saw a decline in short interest during the month of March. As of March 31st, there was short interest totaling 1,620,000 shares, a decline of 8.5% from the March 15th total of 1,770,000 shares. Based on an average daily trading volume, of 390,500 shares, the short-interest ratio is currently 4.1 days. Currently, 3.1% of the company's shares 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 Thursday, May 9th 2024.
View our GRNT earnings forecast
.

How can I listen to Granite Ridge Resources' earnings call?

Granite Ridge Resources will be holding an earnings conference call on Friday, May 10th at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 800-770-2030 with passcode "4127559".

How were Granite Ridge Resources' earnings last quarter?

Granite Ridge Resources, Inc. (NYSE:GRNT) announced its earnings results on Thursday, March, 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm earned $106.80 million during the quarter. Granite Ridge Resources had a trailing twelve-month return on equity of 16.35% and a net margin of 20.58%. During the same period last year, the company earned $0.38 EPS.

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

Granite Ridge Resources declared a quarterly dividend on Thursday, February 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.11 per share on Friday, March 15th. This represents a $0.44 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend is Thursday, February 29th.
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 6.48%. 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 72.13%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GRNT will have a dividend payout ratio of 56.41% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GRNT.

What ETFs hold Granite Ridge Resources' stock?

ETFs with the largest weight of Granite Ridge Resources (NYSE:GRNT) stock in their portfolio include Barrons 400 ETF (BFOR) and First Trust Natural Gas ETF (FCG).IQ Chaikin U.S. Small Cap ETF (CSML).

Who are Granite Ridge Resources' major shareholders?

Granite Ridge Resources' stock is owned by a number of institutional and retail investors. Top institutional shareholders include Howard Financial Services LTD. (0.03%) and DGS Capital Management LLC (0.01%). Insiders that own company stock include Grep Gp Iii, Llc, Griffin Perry, John Mccartney, Luke C Brandenberg, Matthew Reade Miller, Michele J Everard, 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:GRNT) was last updated on 4/22/2024 by MarketBeat.com Staff

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