Granite Ridge Resources (GRNT) Set to Announce Earnings on Thursday

Granite Ridge Resources (NYSE:GRNT) is scheduled to be releasing its earnings data after the market closes on Thursday, May 9th. Analysts expect Granite Ridge Resources to post earnings of $0.13 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Granite Ridge Resources (NYSE:GRNT) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $106.80 million during the quarter. Granite Ridge Resources had a net margin of 20.58% and a return on equity of 16.35%. During the same period last year, the business earned $0.38 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 Stock Down 3.5 %

NYSE:GRNT opened at $6.29 on Thursday. The firm has a market cap of $820.52 million, a P/E ratio of 10.31 and a beta of 0.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.44 and a current ratio of 2.44. Granite Ridge Resources has a fifty-two week low of $5.00 and a fifty-two week high of $8.14. The firm has a 50-day simple moving average of $6.40 and a two-hundred day simple moving average of $6.09.

Granite Ridge Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a yield of 7.00%. Granite Ridge Resources’s dividend payout ratio is currently 72.13%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI assumed coverage on shares of Granite Ridge Resources in a research note on Monday. They set an “in-line” rating and a $8.00 price objective for the company.

Insider Transactions at Granite Ridge Resources

In related news, CFO Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $6.20 per share, for a total transaction of $31,000.00. Following the completion of the purchase, the chief financial officer now directly owns 68,037 shares of the company’s stock, valued at approximately $421,829.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 9,250 shares of company stock worth $57,190 over the last three months. 1.40% of the stock is currently owned by company insiders.

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.