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

Granite Ridge Resources (NYSE:GRNT) is set to post its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Granite Ridge Resources to post earnings of $0.14 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Granite Ridge Resources (NYSE:GRNT) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Granite Ridge Resources had a return on equity of 13.01% and a net margin of 14.39%. The business had revenue of $90.65 million during the quarter, compared to analysts’ expectations of $96.97 million. During the same quarter last year, the business posted $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 Up 2.8 %

Shares of NYSE:GRNT opened at $5.96 on Tuesday. The firm has a fifty day moving average of $6.12 and a 200 day moving average of $6.34. Granite Ridge Resources has a 52-week low of $5.20 and a 52-week high of $7.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.24 and a current ratio of 2.24. The firm has a market capitalization of $779.23 million, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.55 and a beta of 0.19.

Granite Ridge Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.38%. Granite Ridge Resources’s dividend payout ratio (DPR) is currently 104.76%.

Analysts Set New Price Targets

Separately, Evercore ISI cut their price target on shares of Granite Ridge Resources from $8.00 to $7.00 and set an “in-line” rating on the stock in a report on Monday, September 30th.

Insider Transactions at Granite Ridge Resources

In other Granite Ridge Resources news, CFO Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average price of $5.95 per share, with a total value of $29,750.00. Following the transaction, the chief financial officer now directly owns 81,723 shares of the company’s stock, valued at $486,251.85. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Tyler Farquharson purchased 5,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price of $5.95 per share, with a total value of $29,750.00. Following the completion of the acquisition, the chief financial officer now owns 81,723 shares of the company’s stock, valued at approximately $486,251.85. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Reade Miller acquired 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of $5.97 per share, with a total value of $50,745.00. Following the completion of the purchase, the director now owns 692,496 shares in the company, valued at $4,134,201.12. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 30,433 shares of company stock worth $189,581 in the last ninety days. 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.