What is Roth Capital’s Forecast for GRNT Q4 Earnings?

Granite Ridge Resources, Inc. (NYSE:GRNT) – Research analysts at Roth Capital lifted their Q4 2024 earnings per share (EPS) estimates for Granite Ridge Resources in a report released on Sunday, February 9th. Roth Capital analyst J. White now expects that the company will post earnings of $0.15 per share for the quarter, up from their prior estimate 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 Price Performance

GRNT stock opened at $6.25 on Tuesday. The stock’s 50 day moving average price is $6.34 and its 200 day moving average price is $6.29. The firm has a market cap of $816.47 million, a P/E ratio of 17.35, a PEG ratio of 1.36 and a beta of 0.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. Granite Ridge Resources has a 1 year low of $5.47 and a 1 year high of $7.10.

Insider Transactions at Granite Ridge Resources

In other news, CEO Luke C. Brandenberg bought 8,495 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of $6.10 per share, for a total transaction of $51,819.50. Following the completion of the transaction, the chief executive officer now owns 109,128 shares in the company, valued at $665,680.80. The trade was a 8.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Reade Miller bought 41,000 shares of the stock in a transaction on Friday, December 6th. The stock was purchased at an average cost of $6.10 per share, with a total value of $250,100.00. Following the completion of the purchase, the director now directly owns 772,491 shares in the company, valued at $4,712,195.10. This trade represents a 5.60 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 83,174 shares of company stock valued at $520,493 over the last three months. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Granite Ridge Resources

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in shares of Granite Ridge Resources by 52.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,206 shares of the company’s stock valued at $147,000 after acquiring an additional 7,965 shares during the last quarter. SG Americas Securities LLC increased its position in Granite Ridge Resources by 155.7% during the third quarter. SG Americas Securities LLC now owns 26,335 shares of the company’s stock worth $156,000 after purchasing an additional 16,037 shares during the last quarter. Ground Swell Capital LLC purchased a new position in Granite Ridge Resources during the third quarter worth approximately $66,000. CWA Asset Management Group LLC acquired a new position in shares of Granite Ridge Resources in the 3rd quarter valued at $711,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Granite Ridge Resources in the 3rd quarter valued at $361,000. 31.56% of the stock is owned by institutional investors and hedge funds.

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.