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

Granite Ridge Resources, Inc. (NYSE:GRNT) – Analysts at Roth Capital raised their Q4 2024 earnings per share estimates for Granite Ridge Resources in a research 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 prior 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 Trading Down 3.6 %

Shares of NYSE GRNT opened at $6.10 on Tuesday. The stock has a fifty day simple moving average of $6.33 and a 200-day simple moving average of $6.29. Granite Ridge Resources has a twelve month low of $5.47 and a twelve month high of $7.10. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $797.51 million, a PE ratio of 16.94, a PEG ratio of 1.36 and a beta of 0.22.

Insider Buying and Selling at Granite Ridge Resources

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

Institutional Trading of Granite Ridge Resources

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Granite Ridge Resources by 50.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company’s stock worth $2,522,000 after acquiring an additional 141,634 shares in the last quarter. Barclays PLC boosted its holdings in Granite Ridge Resources by 306.9% in the third quarter. Barclays PLC now owns 81,092 shares of the company’s stock valued at $482,000 after purchasing an additional 61,162 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Granite Ridge Resources by 35.1% in the third quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company’s stock valued at $7,258,000 after purchasing an additional 317,303 shares in the last quarter. Janus Henderson Group PLC increased its stake in Granite Ridge Resources by 40.0% in the third quarter. Janus Henderson Group PLC now owns 76,549 shares of the company’s stock valued at $455,000 after purchasing an additional 21,852 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Granite Ridge Resources during the third quarter worth approximately $361,000. Institutional investors and hedge funds 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.