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

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Granite Ridge Resources in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" GRNT shares.
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2 Wall Street analysts have issued twelve-month price objectives for Granite Ridge Resources' stock. Their GRNT share price targets range from $8.00 to $9.00. On average, they expect the company's share price to reach $8.50 in the next twelve months. This suggests a possible upside of 24.3% from the stock's current price.
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Granite Ridge Resources' stock was trading at $6.02 on January 1st, 2024. Since then, GRNT shares have increased by 13.6% and is now trading at $6.84.
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Granite Ridge Resources saw a decrease in short interest in the month of March. As of March 31st, there was short interest totaling 1,620,000 shares, a decrease of 8.5% from the March 15th total of 1,770,000 shares. Based on an average daily trading volume, of 390,500 shares, the days-to-cover ratio is presently 4.1 days. Currently, 3.1% of the shares of the stock are sold short.
View Granite Ridge Resources' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024.
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Granite Ridge Resources will be holding an earnings conference call on Friday, May 10th at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 800-770-2030 with passcode "4127559".

Granite Ridge Resources, Inc. (NYSE:GRNT) released its quarterly earnings results on Thursday, March, 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The company earned $106.80 million during the quarter. Granite Ridge Resources had a net margin of 20.58% and a trailing twelve-month return on equity of 16.35%. During the same period last year, the company posted $0.38 EPS.

Granite Ridge Resources declared a quarterly dividend on Thursday, February 15th. Stockholders of record on Friday, March 1st will be paid a dividend of $0.11 per share on Friday, March 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date is Thursday, February 29th.
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 6.66%. 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 72.13%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GRNT will have a dividend payout ratio of 56.41% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GRNT.

Barrons 400 ETF holds 58,400 shares of GRNT stock, representing 0.29% of its portfolio.

Granite Ridge Resources' stock is owned by many different institutional and retail investors. Top institutional shareholders include Howard Financial Services LTD. (0.03%) and DGS Capital Management LLC (0.01%). Insiders that own company stock include Grep Gp Iii, Llc, Griffin Perry, John Mccartney, Luke C Brandenberg, Matthew Reade Miller, Michele J Everard, 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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