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Granite Ridge Resources NYSE:GRNT Stock Report

Last Price

US$6.19

Market Cap

US$734.8m

7D

1.5%

1Y

-0.8%

Updated

20 Dec, 2024

Data

Company Financials +

Granite Ridge Resources, Inc.

NYSE:GRNT Stock Report

Market Cap: US$734.8m

GRNT Stock Overview

Operates as a non-operated oil and gas exploration and production company. More details

GRNT fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance0/6
Financial Health4/6
Dividends2/6

Rewards

Trading at 26.1% below our estimate of its fair value

Earnings are forecast to grow 35.59% per year

Analysts in good agreement that stock price will rise by 22.1%

Risk Analysis

Dividend of 7.11% is not well covered by earnings or free cash flows

Large one-off items impacting financial results

Profit margins (13.3%) are lower than last year (31.7%)


My Notes

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WA
Analyst Price Target
Consensus Narrative from 5 Analysts

Cost Management And Permian Expansion Will Improve Future Margins

Key Takeaways Increased Controlled Capital allocation and Permian Basin drilling could boost production and future revenue, enhancing operating margins. Effective cost management and oil-focused production shift may improve net margins, potentially benefiting earnings and shareholder returns.
View narrative
US$7.56
FV
18.1% undervalued intrinsic discount
18.54%
Revenue growth p.a.
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2 days ago author updated this narrative

Granite Ridge Resources, Inc. Competitors

Vitesse Energy

NYSE:VTS

US$712.3m

GeoPark

NYSE:GPRK

US$475.6m

Sabine Royalty Trust

NYSE:SBR

US$902.2m

Vital Energy

NYSE:VTLE

US$1.0b

Price History & Performance

Summary of share price highs, lows and changes for Granite Ridge Resources
Historical stock prices
Current Share PriceUS$6.19
52 Week HighUS$7.10
52 Week LowUS$5.20
Beta0.21
1 Month Change-5.06%
3 Month Change-0.64%
1 Year Change-0.80%
3 Year Change-36.84%
5 Year Changen/a
Change since IPO-37.66%

Recent News & Updates

Granite Ridge Resources, Inc. (NYSE:GRNT) Shares Could Be 33% Below Their Intrinsic Value Estimate

Dec 20
Granite Ridge Resources, Inc. (NYSE:GRNT) Shares Could Be 33% Below Their Intrinsic Value Estimate

Granite Ridge Resources: 2025 Oil Production May Increase By Over 20%

Nov 16

Recent updates

Granite Ridge Resources, Inc. (NYSE:GRNT) Shares Could Be 33% Below Their Intrinsic Value Estimate

Dec 20
Granite Ridge Resources, Inc. (NYSE:GRNT) Shares Could Be 33% Below Their Intrinsic Value Estimate

Granite Ridge Resources: 2025 Oil Production May Increase By Over 20%

Nov 16

Some May Be Optimistic About Granite Ridge Resources' (NYSE:GRNT) Earnings

Nov 15
Some May Be Optimistic About Granite Ridge Resources' (NYSE:GRNT) Earnings

Granite Ridge Resources (NYSE:GRNT) Has Affirmed Its Dividend Of $0.11

Nov 12
Granite Ridge Resources (NYSE:GRNT) Has Affirmed Its Dividend Of $0.11

Granite Ridge Resources: Increased Spending Expected To Boost Early 2025 Production

Sep 18

Is Granite Ridge Resources, Inc. (NYSE:GRNT) Trading At A 24% Discount?

Sep 18
Is Granite Ridge Resources, Inc. (NYSE:GRNT) Trading At A 24% Discount?

Granite Ridge Resources' (NYSE:GRNT) Dividend Will Be $0.11

Aug 26
Granite Ridge Resources' (NYSE:GRNT) Dividend Will Be $0.11

Granite Ridge Resources (NYSE:GRNT) Is Paying Out A Dividend Of $0.11

Aug 12
Granite Ridge Resources (NYSE:GRNT) Is Paying Out A Dividend Of $0.11

Is Granite Ridge Resources (NYSE:GRNT) A Risky Investment?

Aug 03
Is Granite Ridge Resources (NYSE:GRNT) A Risky Investment?

Granite Ridge Resources: Free Cash Flow May Be Close To Zero In 2024

Jun 18

Investors Will Want Granite Ridge Resources' (NYSE:GRNT) Growth In ROCE To Persist

Jun 10
Investors Will Want Granite Ridge Resources' (NYSE:GRNT) Growth In ROCE To Persist

Granite Ridge Resources (NYSE:GRNT) Is Due To Pay A Dividend Of $0.11

May 21
Granite Ridge Resources (NYSE:GRNT) Is Due To Pay A Dividend Of $0.11

Estimating The Fair Value Of Granite Ridge Resources, Inc. (NYSE:GRNT)

May 14
Estimating The Fair Value Of Granite Ridge Resources, Inc. (NYSE:GRNT)

Granite Ridge Resources: Balancing Production Growth With Increasing Debt

Apr 05

Granite Ridge Resources' (NYSE:GRNT) Soft Earnings Are Actually Better Than They Appear

Mar 15
Granite Ridge Resources' (NYSE:GRNT) Soft Earnings Are Actually Better Than They Appear

There Is A Reason Granite Ridge Resources, Inc.'s (NYSE:GRNT) Price Is Undemanding

Mar 10
There Is A Reason Granite Ridge Resources, Inc.'s (NYSE:GRNT) Price Is Undemanding

Granite Ridge Resources (NYSE:GRNT) Takes On Some Risk With Its Use Of Debt

Feb 16
Granite Ridge Resources (NYSE:GRNT) Takes On Some Risk With Its Use Of Debt

Granite Ridge Resources Pre Announces Q4 Beat And Offers Positive Operations Update

Feb 05

Granite Ridge Resources: Debt Remains Reasonable Despite Spending To Grow Production

Dec 08

Granite Ridge: Secondary Creates Buying Opportunity

Sep 29

Granite Ridge Resources: Attempting To Scale Up Production

Aug 30

Granite Ridge Resources: Exceptional Team, Better Guidance, And Quite Cheap

Jun 14

We Think Granite Ridge Resources (NYSE:GRNT) Might Have The DNA Of A Multi-Bagger

Mar 28
We Think Granite Ridge Resources (NYSE:GRNT) Might Have The DNA Of A Multi-Bagger

Granite Ridge Resources raises dividend by 37.5% to $0.11

Feb 21

Granite Ridge Resources reports Q3 results

Nov 14

Shareholder Returns

GRNTUS Oil and GasUS Market
7D1.5%-6.6%-3.5%
1Y-0.8%1.7%22.1%

Return vs Industry: GRNT underperformed the US Oil and Gas industry which returned 1.7% over the past year.

Return vs Market: GRNT underperformed the US Market which returned 22.1% over the past year.

Price Volatility

Is GRNT's price volatile compared to industry and market?
GRNT volatility
GRNT Average Weekly Movement4.3%
Oil and Gas Industry Average Movement5.3%
Market Average Movement6.3%
10% most volatile stocks in US Market17.0%
10% least volatile stocks in US Market3.1%

Stable Share Price: GRNT has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: GRNT's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a2Luke Brandenbergwww.graniteridge.com

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.

Granite Ridge Resources, Inc. Fundamentals Summary

How do Granite Ridge Resources's earnings and revenue compare to its market cap?
GRNT fundamental statistics
Market capUS$734.78m
Earnings (TTM)US$47.72m
Revenue (TTM)US$358.52m

17.0x

P/E Ratio

2.3x

P/S Ratio

Is GRNT overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
GRNT income statement (TTM)
RevenueUS$358.52m
Cost of RevenueUS$62.45m
Gross ProfitUS$296.07m
Other ExpensesUS$248.34m
EarningsUS$47.72m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)0.37
Gross Margin82.58%
Net Profit Margin13.31%
Debt/Equity Ratio29.5%

How did GRNT perform over the long term?

See historical performance and comparison

Dividends

7.1%

Current Dividend Yield

120%

Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/20 22:57
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Granite Ridge Resources, Inc. is covered by 8 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John AbbottBofA Global Research
Noah HungnessBofA Global Research
Brian VelieCapital One Securities, Inc.