Roth Capital Analysts Boost Earnings Estimates for GRNT

Granite Ridge Resources, Inc. (NYSE:GRNT) – Investment analysts at Roth Capital upped their Q4 2024 earnings per share estimates for shares of Granite Ridge Resources in a research report issued to clients and investors on Sunday, February 9th. Roth Capital analyst J. White now forecasts that the company will post earnings of $0.15 per share for the quarter, up from their prior forecast 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 %

GRNT stock opened at $6.33 on Tuesday. The stock’s fifty day simple moving average is $6.33 and its two-hundred day simple moving average is $6.29. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30. The stock has a market cap of $826.93 million, a P/E ratio of 17.57, a P/E/G ratio of 1.36 and a beta of 0.22. Granite Ridge Resources has a 1-year low of $5.47 and a 1-year high of $7.10.

Hedge Funds Weigh In On Granite Ridge Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP increased its holdings in shares of Granite Ridge Resources by 691.0% in the 4th quarter. Quantbot Technologies LP now owns 9,112 shares of the company’s stock worth $59,000 after buying an additional 7,960 shares during the last quarter. Ground Swell Capital LLC bought a new stake in Granite Ridge Resources during the third quarter worth about $66,000. KLP Kapitalforvaltning AS purchased a new position in shares of Granite Ridge Resources in the 4th quarter worth about $68,000. Belvedere Trading LLC bought a new position in shares of Granite Ridge Resources during the 4th quarter valued at about $75,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Granite Ridge Resources by 18.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,889 shares of the company’s stock valued at $116,000 after buying an additional 2,735 shares in the last quarter. 31.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Luke C. Brandenberg acquired 8,495 shares of Granite Ridge Resources stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average price of $6.10 per share, with a total value of $51,819.50. Following the completion of the purchase, the chief executive officer now owns 109,128 shares in the company, valued at approximately $665,680.80. The trade was a 8.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Reade Miller purchased 41,000 shares of Granite Ridge Resources stock in a transaction dated Friday, December 6th. The shares were purchased at an average price 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 in the company, valued at approximately $4,712,195.10. This represents a 5.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 78,174 shares of company stock worth $487,743. 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.