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

Granite Ridge Resources (NYSE:GRNT) is scheduled to be announcing its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Granite Ridge Resources (NYSE:GRNT) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Granite Ridge Resources had a net margin of 14.39% and a return on equity of 13.01%. The firm had revenue of $90.65 million for the quarter, compared to the consensus estimate of $96.97 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. 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 Trading Up 1.0 %

Shares of GRNT opened at $5.96 on Thursday. Granite Ridge Resources has a 12-month low of $5.20 and a 12-month high of $7.10. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $779.23 million, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.56 and a beta of 0.19. The stock’s 50-day moving average price is $6.15 and its 200 day moving average price is $6.36.

Granite Ridge Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, August 30th. This represents a $0.44 annualized dividend and a yield of 7.38%. Granite Ridge Resources’s dividend payout ratio is 97.78%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Matthew Reade Miller acquired 8,500 shares of the stock in a transaction dated Wednesday, September 11th. The shares were bought at an average cost of $5.97 per share, for a total transaction of $50,745.00. Following the purchase, the director now owns 692,496 shares in the company, valued at approximately $4,134,201.12. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Granite Ridge Resources news, CFO Tyler Farquharson bought 5,000 shares of Granite Ridge Resources stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $6.62 per share, with a total value of $33,100.00. Following the acquisition, the chief financial officer now directly owns 76,723 shares of the company’s stock, valued at $507,906.26. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Reade Miller bought 8,500 shares of Granite Ridge Resources stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $50,745.00. Following the completion of the acquisition, the director now directly owns 692,496 shares in the company, valued at $4,134,201.12. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 30,433 shares of company stock worth $189,581. Company 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.