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 twelve months. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" GRNT shares.
View GRNT analyst ratings or view top-rated stocks.

2 brokerages have issued twelve-month target prices for Granite Ridge Resources' stock. Their GRNT share price targets range from $8.00 to $9.00. On average, they anticipate the company's stock price to reach $8.50 in the next year. This suggests a possible upside of 25.2% from the stock's current price.
View analysts price targets for GRNT or view top-rated stocks among Wall Street analysts.

Granite Ridge Resources' stock was trading at $6.02 at the beginning of 2024. Since then, GRNT stock has increased by 12.8% and is now trading at $6.79.
View the best growth stocks for 2024 here.

Granite Ridge Resources saw a decrease in short interest in 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 volume of 390,500 shares, the days-to-cover ratio is presently 4.1 days. Approximately 3.1% of the shares of the company are short sold.
View Granite Ridge Resources' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024.
View our GRNT earnings forecast.

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 earnings results on Thursday, March, 7th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. The firm 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 quarter in the prior year, the firm posted $0.38 EPS.

Granite Ridge Resources declared a quarterly dividend on Thursday, February 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.11 per share on Friday, March 15th. This represents a $0.44 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date of this dividend 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 6.60%. 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 a number of 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.
View institutional ownership trends.

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.