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

Company Overview

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.

Key Stats

• Today's Range: $5.64 to $6.03
• 50-Day Range: $5.82 to $6.78
• 52-Week Range: $5.20 to $7.10
• Volume: 492,920 shs
• Average Volume: 439,335 shs
• Market Capitalization: $738.70 million
• P/E Ratio: 15.69
• Dividend Yield: 7.79%
• Price Target: $7.60
• Consensus Rating: Moderate Buy

Granite Ridge Resources Stock Analysis - MarketRank™

Granite Ridge Resources scored higher than 77% of companies evaluated by MarketBeat, and ranked 91st out of 272 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Granite Ridge Resources has received a consensus rating of Moderate Buy. The company's average rating score is 2.75, and is based on 1 buy rating, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Granite Ridge Resources has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 12.96%

Earnings Growth

Earnings for Granite Ridge Resources are expected to grow by 12.96% in the coming year, from $0.54 to $0.61 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Granite Ridge Resources is 15.69, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 134.63.

Price to Earnings Ratio vs. Sector

The P/E ratio of Granite Ridge Resources is 15.69, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 16.64.

Price to Earnings Growth Ratio

Granite Ridge Resources has a PEG Ratio of 1.62. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Granite Ridge Resources has a P/B Ratio of 1.12. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

6.75% 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 7.9.

Change versus previous month

Short interest in Granite Ridge Resources has recently increased by 30.15%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Leadership

Granite Ridge Resources is a leading dividend payer. It pays a dividend yield of 7.30%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Granite Ridge Resources does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Granite Ridge Resources is 122.22%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on earnings estimates, Granite Ridge Resources will have a dividend payout ratio of 72.13% next year. This indicates that Granite Ridge Resources will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

6.75% 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 7.9.

Change versus previous month

Short interest in Granite Ridge Resources has recently increased by 30.15%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 3.3 / 5
• News Sentiment: 0.93

News Sentiment

Granite Ridge Resources has a news sentiment score of 0.93. 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 0.68 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 2 articles on an average week.

Search Interest

6 people have searched for GRNT on MarketBeat in the last 30 days.

MarketBeat Follows

Only 1 people have added Granite Ridge Resources to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: Acquiring Shares

Insider Buying vs. Insider Selling

In the past three months, Granite Ridge Resources insiders have bought more of their company's stock than they have sold. Specifically, they have bought $520,493.00 in company stock and sold $0.00 in company stock.

Percentage Held by Insiders

Only 1.90% of the stock of Granite Ridge Resources is held by insiders.

Percentage Held by Institutions

Only 31.56% of the stock of Granite Ridge Resources is held by institutions.

GRNT Stock Analysis - Frequently Asked Questions

How have GRNT shares performed this year?

Granite Ridge Resources' stock was trading at $6.02 at the beginning of 2024. Since then, GRNT stock has decreased by 6.1% and is now trading at $5.65.
View the best growth stocks for 2024 here.

How were Granite Ridge Resources' earnings last quarter?

Granite Ridge Resources, Inc. (NYSE:GRNT) announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $96.97 million. Granite Ridge Resources had a trailing twelve-month return on equity of 11.58% and a net margin of 12.59%.

Who are Granite Ridge Resources' major shareholders?

Granite Ridge Resources' top institutional shareholders include Geode Capital Management LLC (0.93%), State Street Corp (0.68%), Charles Schwab Investment Management Inc. (0.32%) and Jacobs Levy Equity Management Inc. (0.12%). Insiders that own company stock include Grep Gp Iii, Llc, Matthew Reade Miller, Griffin Perry, Thaddeus Darden, Luke C Brandenberg, Tyler Farquharson, John Mccartney and Michele J Everard.
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.

What other stocks do shareholders of Granite Ridge Resources own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Granite Ridge Resources investors own include NVIDIA (NVDA), Broadcom (AVGO), Meta Platforms (META), Arista Networks (ANET), Adobe (ADBE), ServiceNow (NOW) and Advanced Micro Devices (AMD).

Company Calendar

• Last Earnings: 8/08/2024
• Ex-Dividend for 12/16 Dividend: 11/29/2024
• Dividend Payable: 12/16/2024
• Today: 12/18/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Oils/Energy
• Industry: Crude petroleum & natural gas
• Sub-Industry: Petroleum And Natural Gas
• Current Symbol: NYSE:GRNT
• CUSIP: N/A
• CIK: 1928446
• Web: www.graniteridge.com
• Phone: 214-396-2850
• Fax: N/A
• Employees: 1
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $7.60
• High Stock Price Target: $8.80
• Low Stock Price Target: $7.00
• Potential Upside/Downside: +34.5%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.75
• Research Coverage: 4 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.36
• Trailing P/E Ratio: 15.69
• Forward P/E Ratio: 10.46
• P/E Growth: 1.62
• Net Income: $81.10 million
• Net Margins: 12.59%
• Pretax Margin: 16.60%
• Return on Equity: 11.58%
• Return on Assets: 7.89%

Debt

• Debt-to-Equity Ratio: 0.30
• Current Ratio: 1.56
• Quick Ratio: 1.56

Sales & Book Value

• Annual Sales: $380.52 million
• Price / Sales: 1.94
• Cash Flow: $1.86 per share
• Price / Cash Flow: 3.03
• Book Value: $5.05 per share
• Price / Book: 1.12

Miscellaneous

• Outstanding Shares: 130,744,000
• Free Float: 128,260,000
• Market Cap: $738.70 million
• Optionable: Optionable
• Beta: 0.23