Roth Capital Has Positive Estimate for GRNT Q4 Earnings

Granite Ridge Resources, Inc. (NYSE:GRNT) – Stock analysts at Roth Capital upped their Q4 2024 earnings per share (EPS) estimates for Granite Ridge Resources in a report issued on Sunday, February 9th. Roth Capital analyst J. White now expects that the company will earn $0.15 per share for the quarter, up from their previous forecast 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 Stock Performance

Shares of NYSE:GRNT opened at $6.25 on Tuesday. The business’s 50-day simple moving average is $6.34 and its 200 day simple moving average is $6.29. The company 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 one year low of $5.47 and a one year high of $7.10.

Institutional Trading of Granite Ridge Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Grey Rock Energy Management LLC bought a new position in Granite Ridge Resources during the 4th quarter worth approximately $357,018,000. Intech Investment Management LLC bought a new position in Granite Ridge Resources during the fourth quarter worth $162,000. HighTower Advisors LLC acquired a new position in Granite Ridge Resources in the fourth quarter worth $941,000. Ashton Thomas Private Wealth LLC bought a new stake in Granite Ridge Resources during the fourth quarter valued at $200,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Granite Ridge Resources by 18.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,889 shares of the company’s stock worth $116,000 after purchasing an additional 2,735 shares during the period. 31.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Granite Ridge Resources

In related news, CEO Luke C. Brandenberg purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $6.50 per share, for a total transaction of $32,500.00. Following the completion of the purchase, the chief executive officer now owns 96,633 shares in the company, valued at approximately $628,114.50. This represents a 5.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Reade Miller acquired 18,173 shares of Granite Ridge Resources stock in a transaction on Wednesday, November 20th. The shares were bought at an average price of $6.49 per share, for a total transaction of $117,942.77. Following the completion of the purchase, the director now directly owns 711,164 shares in the company, valued at $4,615,454.36. The trade was a 2.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 83,174 shares of company stock valued at $520,493 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

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.