Granite Ridge Resources (GRNT) Projected to Post Quarterly Earnings on Thursday

Granite Ridge Resources (NYSE:GRNT) will likely be posting its quarterly earnings results before the market opens on Thursday, March 6th. Analysts expect Granite Ridge Resources to post earnings of $0.14 per share and revenue of $100.68 million for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Granite Ridge Resources Trading Down 0.8 %

GRNT opened at $5.97 on Thursday. The business’s 50 day moving average price is $6.36 and its 200 day moving average price is $6.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $780.54 million, a PE ratio of 16.58, a P/E/G ratio of 1.29 and a beta of 0.22. Granite Ridge Resources has a one year low of $5.47 and a one year high of $7.10.

Granite Ridge Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 7.37%. The ex-dividend date is Friday, February 28th. Granite Ridge Resources’s dividend payout ratio (DPR) is presently 122.22%.

Insider Activity at Granite Ridge Resources

In other news, CEO Luke C. Brandenberg bought 8,495 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $6.10 per share, for a total transaction of $51,819.50. Following the acquisition, the chief executive officer now directly owns 109,128 shares of the company’s stock, valued at $665,680.80. The trade was a 8.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew Reade Miller bought 41,000 shares of the company’s 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 transaction, the director now owns 772,491 shares in the company, valued at $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. In the last quarter, insiders purchased 51,501 shares of company stock worth $314,286. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Separately, Capital One Financial lowered shares of Granite Ridge Resources from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.60.

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.