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

2 Wall Street research 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 research analysts is that investors should "buy" GRNT shares.
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2 equities research analysts have issued 12-month price objectives for Granite Ridge Resources' shares. Their GRNT share price targets range from $8.00 to $9.00. On average, they anticipate the company's stock price to reach $8.50 in the next twelve months. This suggests a possible upside of 42.6% from the stock's current price.
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Granite Ridge Resources' stock was trading at $9.03 at the beginning of 2023. Since then, GRNT stock has decreased by 34.0% and is now trading at $5.96.
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Granite Ridge Resources saw a increase in short interest in 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 volume of 629,800 shares, the short-interest ratio is currently 0.5 days. Approximately 0.6% of the shares of the company are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Monday, March 25th 2024.
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Granite Ridge Resources, Inc. (NYSE:GRNT) announced its quarterly earnings results on Thursday, November, 9th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by $0.04. The firm had revenue of $108.40 million for the quarter. Granite Ridge Resources had a trailing twelve-month return on equity of 20.45% and a net margin of 29.78%.

Granite Ridge Resources announced a quarterly dividend on Friday, November 17th. Investors of record on Friday, December 1st will be given a dividend of $0.11 per share on Friday, December 15th. This represents a $0.44 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date of this dividend is Thursday, November 30th.
Read our dividend analysis for GRNT.

Granite Ridge Resources (NYSE:GRNT) pays an annual dividend of $0.44 per share and currently has a dividend yield of 7.35%. 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.

Granite Ridge Resources' stock is owned by many different institutional and retail investors. Top institutional shareholders 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.
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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.
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