Roth Capital Has Positive Estimate for GRNT FY2025 Earnings

Granite Ridge Resources, Inc. (NYSE:GRNT) – Equities researchers at Roth Capital upped their FY2025 earnings estimates for Granite Ridge Resources in a note issued to investors on Sunday, February 9th. Roth Capital analyst J. White now anticipates that the company will post earnings of $0.87 per share for the year, up from their previous forecast of $0.67. The consensus estimate for Granite Ridge Resources’ current full-year earnings is $0.52 per share.

Granite Ridge Resources Price Performance

Shares of NYSE:GRNT opened at $6.10 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30. Granite Ridge Resources has a 12 month low of $5.47 and a 12 month high of $7.10. The stock has a market cap of $797.51 million, a P/E ratio of 16.94, a P/E/G ratio of 1.36 and a beta of 0.22. The company has a 50 day moving average of $6.33 and a 200 day moving average of $6.29.

Insiders Place Their Bets

In other news, Director Matthew Reade Miller acquired 18,173 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average cost of $6.49 per share, with a total value of $117,942.77. Following the transaction, the director now owns 711,164 shares of the company’s stock, valued at $4,615,454.36. This trade represents a 2.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Luke C. Brandenberg acquired 8,495 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $6.10 per share, for a total transaction of $51,819.50. Following the completion of the transaction, the chief executive officer now directly owns 109,128 shares in the company, valued at $665,680.80. The trade was a 8.44 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 78,174 shares of company stock valued at $487,743 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Granite Ridge Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRNT. Grey Rock Energy Management LLC bought a new stake in shares of Granite Ridge Resources during the fourth quarter worth $357,018,000. Spider Management Company LLC lifted its position in shares of Granite Ridge Resources by 21.4% during the fourth quarter. Spider Management Company LLC now owns 4,951,533 shares of the company’s stock worth $31,987,000 after purchasing an additional 872,282 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Granite Ridge Resources by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 4,234,276 shares of the company’s stock worth $27,353,000 after purchasing an additional 418,059 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Granite Ridge Resources by 35.1% during the third quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company’s stock worth $7,258,000 after purchasing an additional 317,303 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Granite Ridge Resources by 16.0% during the fourth quarter. American Century Companies Inc. now owns 2,056,078 shares of the company’s stock worth $13,282,000 after purchasing an additional 282,912 shares during the last quarter. Institutional investors own 31.56% of the company’s stock.

About Granite Ridge Resources

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.