Research Analysts Set Expectations for GRNT FY2025 Earnings

Granite Ridge Resources, Inc. (NYSE:GRNT) – Investment analysts at Roth Capital lifted their FY2025 earnings per share estimates for shares of Granite Ridge Resources in a research report issued on Sunday, February 9th. Roth Capital analyst J. White now forecasts that the company will post earnings per share of $0.87 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 GRNT opened at $6.33 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average is $6.33 and its 200 day moving average is $6.29. 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 $826.93 million, a P/E ratio of 17.57, a P/E/G ratio of 1.36 and a beta of 0.22.

Insider Activity

In other news, CEO Luke C. Brandenberg acquired 5,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $6.50 per share, with a total value of $32,500.00. Following the acquisition, the chief executive officer now directly owns 96,633 shares of the company’s stock, valued at $628,114.50. The trade was a 5.46 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Reade Miller bought 41,000 shares of the stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of $6.10 per share, with a total value of $250,100.00. Following the acquisition, the director now owns 772,491 shares of the company’s stock, valued at $4,712,195.10. The trade was a 5.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 78,174 shares of company stock worth $487,743 over the last three months. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Granite Ridge Resources

A number of hedge funds and other institutional investors have recently modified their holdings of GRNT. Grey Rock Energy Management LLC purchased a new position in shares of Granite Ridge Resources in the 4th quarter worth about $357,018,000. Spider Management Company LLC boosted its holdings in shares of Granite Ridge Resources by 21.4% in the fourth quarter. Spider Management Company LLC now owns 4,951,533 shares of the company’s stock worth $31,987,000 after acquiring an additional 872,282 shares during the period. Vanguard Group Inc. grew its holdings in Granite Ridge Resources by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 4,234,276 shares of the company’s stock valued at $27,353,000 after buying an additional 418,059 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 valued at $7,258,000 after acquiring an additional 317,303 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Granite Ridge Resources by 16.0% during the 4th quarter. American Century Companies Inc. now owns 2,056,078 shares of the company’s stock valued at $13,282,000 after purchasing an additional 282,912 shares in the last quarter. Hedge funds and other 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.