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 .

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: 0.69
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

3.5

Analyst's Opinion

Consensus Rating
Granite Ridge Resources has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $8.50, Granite Ridge Resources has a forecasted upside of 44.6% from its current price of $5.88.
Amount of Analyst Coverage
Granite Ridge Resources has only been the subject of 2 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
0.62% of the float of Granite Ridge Resources has been sold short.
Short Interest Ratio / Days to Cover
Granite Ridge Resources has a short interest ratio ("days to cover") of 0.5, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Granite Ridge Resources has recently increased by 11.02%, indicating that investor sentiment is decreasing significantly.

3.3

Dividend Strength

Dividend Leadership
Granite Ridge Resources is a leading dividend payer. It pays a dividend yield of 7.33%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Granite Ridge Resources has only been increasing its dividend for 1 years.
Dividend Coverage
The dividend payout ratio of Granite Ridge Resources is 48.35%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Granite Ridge Resources will have a dividend payout ratio of 42.31% next year. This indicates that Granite Ridge Resources will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for GRNT.

3.7

News and Social Media Coverage

News Sentiment
Granite Ridge Resources has a news sentiment score of 0.69. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.49 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 6 news articles for Granite Ridge Resources this week, compared to 1 article on an average week.
Search Interest
13 people have searched for GRNT on MarketBeat in the last 30 days. This is an increase of 117% compared to the previous 30 days.
MarketBeat Follows
7 people have added Granite Ridge Resources to their MarketBeat watchlist in the last 30 days. This is an increase of 75% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Granite Ridge Resources insiders have sold 19,125.34% more of their company's stock than they have bought. Specifically, they have bought $212,350.00 in company stock and sold $40,825,000.00 in company stock.
Percentage Held by Insiders
Only 1.40% of the stock of Granite Ridge Resources is held by insiders.
Percentage Held by Institutions
Only 7.56% of the stock of Granite Ridge Resources is held by institutions.

3.1

Earnings and Valuation

Earnings Growth
Earnings for Granite Ridge Resources are expected to grow by 19.54% in the coming year, from $0.87 to $1.04 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Granite Ridge Resources is 6.46, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 116.38.
Price to Earnings Ratio vs. Sector
The P/E ratio of Granite Ridge Resources is 6.46, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 17.03.
Price to Book Value per Share Ratio
Granite Ridge Resources has a P/B Ratio of 1.26. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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

30 days | 90 days | 365 days | Advanced Chart

GRNT Stock News Headlines

December 1, 2023 | benzinga.com

Noteworthy Insider Activity: Thaddeus Darden Invests $59K In Granite Ridge Resources Stock

November 28, 2023 | finance.yahoo.com

Should Granite Ridge Resources, Inc. (NYSE:GRNT) Focus On Improving This Fundamental Metric?

December 5, 2023 | DTI Trader (Ad)

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November 27, 2023 | benzinga.com

Wednesday Is Your Last Chance To Buy Granite Ridge Resources Before The Dividend Payout

November 25, 2023 | seekingalpha.com

GRNT Granite Ridge Resources, Inc.

November 13, 2023 | finance.yahoo.com

Granite Ridge Resources, Inc (NYSE:GRNT) Q3 2023 Earnings Call Transcript

November 9, 2023 | finance.yahoo.com

Granite Ridge Resources Inc. Reports Third-Quarter 2023 Results and Provides Updated Outlook for 2023

November 9, 2023 | finance.yahoo.com

Wall Street Analysts Think Granite Ridge Resources, Inc. (GRNT) Could Surge 42.6%: Read This Before Placing a Bet

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November 8, 2023 | finance.yahoo.com

With 60% institutional ownership, Granite Ridge Resources, Inc. (NYSE:GRNT) is a favorite amongst the big guns

October 12, 2023 | finance.yahoo.com

Granite Ridge Resources, Inc.'s (NYSE:GRNT) Intrinsic Value Is Potentially 88% Above Its Share Price

October 5, 2023 | finance.yahoo.com

After Plunging -21.66% in 4 Weeks, Here's Why the Trend Might Reverse for Granite Ridge Resources, Inc. (GRNT)

October 3, 2023 | finance.yahoo.com

Granite Ridge Resources, Inc. (GRNT) Moves to Strong Buy: Rationale Behind the Upgrade

September 27, 2023 | msn.com

Stephens & Co. Initiates Coverage of Granite Ridge Resources Inc - (GRNT) with Overweight Recommendation

September 16, 2023 | finance.yahoo.com

Insider Buying: President and CEO Luke Brandenberg Acquires 10,000 Shares of Granite Ridge ...

September 12, 2023 | finance.yahoo.com

Here's Why Granite Ridge Resources, Inc. (GRNT) is Poised for a Turnaround After Losing -23.03% in 4 Weeks

September 11, 2023 | benzinga.com

Smucker, FuelCell Energy, Granite Ridge Resources And Other Big Stocks Moving Lower On Monday

September 11, 2023 | msn.com

Granite Ridge Resources plunges on 7.1M-share secondary offering

September 11, 2023 | marketwatch.com

Granite Ridge Resources Shares Fall 7.2% After Secondary Share Offering

September 11, 2023 | finance.yahoo.com

Granite Ridge Resources, Inc. Announces Launch of Secondary Public Offering of Common Stock

August 28, 2023 | finance.yahoo.com

Zacks.com featured highlights include Trip.com, Dr. Reddy's Laboratories, J&J Snack Foods and Granite Ridge Resources

August 22, 2023 | finance.yahoo.com

Should You Buy Granite Ridge Resources, Inc. (GRNT) After Golden Cross?

August 11, 2023 | finance.yahoo.com

Granite Ridge Resources Inc. Reports Second-Quarter 2023 Results and Provides Updated Outlook for 2023

August 8, 2023 | uk.news.yahoo.com

Granite Ridge Resources (NYSE:GRNT) shareholders have endured a 26% loss from investing in the stock a year ago

July 11, 2023 | finance.yahoo.com

Granite Ridge Resources Schedules Second Quarter 2023 Earnings Conference Call

July 11, 2023 | finance.yahoo.com

Granite Ridge Resources (NYSE:GRNT) Is Very Good At Capital Allocation

July 8, 2023 | theglobeandmail.com

Instrument Name Granite Ridge Resources Inc Instrument Symbol (GRNT-N)

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

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Crude petroleum & natural gas
Sub-Industry: N/A
Sector: Oils/Energy
Current Symbol: NYSE:GRNT
CUSIP: N/A
CIK: 1928446
Web: www.graniteridge.com
Phone: 214-396-2850
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

EPS (Most Recent Fiscal Year): $0.91
Trailing P/E Ratio: 6.46
Forward P/E Ratio: 6.76
P/E Growth: N/A
Net Income: $262.34 million
Net Margins: 29.78%
Pretax Margin: 37.93%
Return on Equity: 20.45%
Return on Assets: 15.26%

Debt

Debt-to-Equity Ratio: 0.13
Current Ratio: 1.47
Quick Ratio: 1.47

Sales & Book Value

Annual Sales: $497.42 million
Price / Sales: 1.57
Cash Flow: $2.59 per share
Price / Cash Flow: 2.27
Book Value: $4.67 per share
Price / Book: 1.26

Miscellaneous

Outstanding Shares: 133,000,000
Free Float: 131,141,000
Market Cap: $782.04 million
Optionable: Not Optionable
Beta: 0.13

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Key Executives

Mr. Luke C. Brandenberg (Age 37)
President & CEO
Comp: $221.37k
Mr. Tyler S. Farquharson (Age 41)
Chief Financial Officer
Comp: $126.62k
Mr. Zoran Durkovic
Chief Accounting Officer
Mr. Ryan Riggelson
Executive Vice President of Engineering
Ms. Emily Tubb Fuquay
Corporate Secretary

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

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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