Roth Capital Analysts Raise Earnings Estimates for GRNT

Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) - Investment analysts at Roth Capital lifted their Q4 2024 earnings per share estimates for Granite Ridge Resources in a research note issued on Sunday, February 9th. Roth Capital analyst J. White now expects that the company will earn $0.15 per share for the quarter, up from their prior estimate of $0.13. The consensus estimate for Granite Ridge Resources' current full-year earnings is $0.52 per share. Roth Capital also issued estimates for Granite Ridge Resources' Q1 2025 earnings at $0.23 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.21 EPS and Q4 2025 earnings at $0.24 EPS.

Granite Ridge Resources Stock Up 1.4 %

Shares of NYSE GRNT traded up $0.09 during trading on Tuesday, reaching $6.24. The company had a trading volume of 95,511 shares, compared to its average volume of 370,229. Granite Ridge Resources has a 12-month low of $5.47 and a 12-month high of $7.10. The stock has a market cap of $815.16 million, a PE ratio of 17.32, a P/E/G ratio of 1.36 and a beta of 0.22. The business's 50-day moving average is $6.33 and its 200 day moving average is $6.29. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.30.

Institutional Investors Weigh In On Granite Ridge Resources

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Granite Ridge Resources by 50.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company's stock valued at $2,522,000 after buying an additional 141,634 shares during the last quarter. Barclays PLC boosted its position in shares of Granite Ridge Resources by 306.9% during the third quarter. Barclays PLC now owns 81,092 shares of the company's stock valued at $482,000 after buying an additional 61,162 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Granite Ridge Resources by 35.1% during the third quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company's stock valued at $7,258,000 after buying an additional 317,303 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Granite Ridge Resources by 40.0% during the third quarter. Janus Henderson Group PLC now owns 76,549 shares of the company's stock valued at $455,000 after buying an additional 21,852 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Granite Ridge Resources during the third quarter valued at $361,000. 31.56% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Granite Ridge Resources

In other Granite Ridge Resources news, Director Matthew Reade Miller acquired 41,000 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average cost of $6.10 per share, with a total value of $250,100.00. Following the completion of the transaction, the director now directly owns 772,491 shares of the company's stock, valued at approximately $4,712,195.10. This represents a 5.60 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Luke C. Brandenberg acquired 8,495 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $6.10 per share, for a total transaction of $51,819.50. Following the completion of the transaction, the chief executive officer now directly owns 109,128 shares of the company's stock, valued at $665,680.80. The trade was a 8.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 73,174 shares of company stock valued at $455,243. Insiders own 1.90% of the company's stock.

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.