Granite Ridge Resources (GRNT) Scheduled to Post Earnings on Thursday

Granite Ridge Resources (NYSE:GRNT - Get Free Report) is scheduled to announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Parties that wish to register for the company's conference call can do so using this link.

Granite Ridge Resources (NYSE:GRNT - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $90.65 million during the quarter, compared to analysts' expectations of $96.97 million. Granite Ridge Resources had a return on equity of 13.01% and a net margin of 14.39%. During the same quarter in the previous year, the business earned $0.19 EPS. On average, analysts expect Granite Ridge Resources to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Granite Ridge Resources Stock Performance

Shares of NYSE:GRNT traded down $0.03 during trading on Thursday, hitting $5.93. 181,741 shares of the company were exchanged, compared to its average volume of 422,870. The stock has a 50 day moving average of $6.14 and a 200 day moving average of $6.35. The company has a market cap of $775.31 million, a PE ratio of 14.12, a P/E/G ratio of 1.56 and a beta of 0.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.24 and a quick ratio of 2.24. Granite Ridge Resources has a 52-week low of $5.20 and a 52-week high of $7.10.

Granite Ridge Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.11 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.44 dividend on an annualized basis and a yield of 7.42%. Granite Ridge Resources's dividend payout ratio is currently 104.76%.

Insider Activity at Granite Ridge Resources

In other Granite Ridge Resources news, CEO Luke C. Brandenberg acquired 5,000 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $6.23 per share, with a total value of $31,150.00. Following the purchase, the chief executive officer now owns 91,633 shares of the company's stock, valued at approximately $570,873.59. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Granite Ridge Resources news, Director Matthew Reade Miller purchased 8,500 shares of the stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price of $5.97 per share, with a total value of $50,745.00. Following the transaction, the director now directly owns 692,496 shares of the company's stock, valued at approximately $4,134,201.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Luke C. Brandenberg acquired 5,000 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $6.23 per share, with a total value of $31,150.00. Following the acquisition, the chief executive officer now owns 91,633 shares in the company, valued at approximately $570,873.59. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 30,433 shares of company stock valued at $189,581. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

Separately, Evercore ISI cut their price objective on Granite Ridge Resources from $8.00 to $7.00 and set an "in-line" rating for the company in a report on Monday, September 30th.

Granite Ridge Resources Company Profile

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.