Q1 2023 EPS Estimates for Granite Ridge Resources, Inc. (NYSE:GRNT) Cut by Capital One Financial

Posted by on Apr 24th, 2023

Granite Ridge Resources, Inc. (NYSE:GRNT – Get Rating) – Analysts at Capital One Financial lowered their Q1 2023 earnings estimates for shares of Granite Ridge Resources in a research report issued to clients and investors on Friday, April 21st. Capital One Financial analyst P. Johnston now anticipates that the company will earn $0.28 per share for the quarter, down from their previous forecast of $0.29. The consensus estimate for Granite Ridge Resources’ current full-year earnings is $1.30 per share. Capital One Financial also issued estimates for Granite Ridge Resources’ Q2 2023 earnings at $0.31 EPS and FY2023 earnings at $1.30 EPS.

Granite Ridge Resources Stock Performance

NYSE:GRNT opened at $5.47 on Monday. Granite Ridge Resources has a 52 week low of $4.82 and a 52 week high of $14.00. The stock’s fifty day moving average price is $5.87.

Granite Ridge Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 8.04%. The ex-dividend date was Tuesday, February 28th.

Hedge Funds Weigh In On Granite Ridge Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avalon Investment & Advisory purchased a new stake in shares of Granite Ridge Resources in the fourth quarter valued at $141,000. Howard Financial Services LTD. purchased a new position in Granite Ridge Resources in the 1st quarter valued at about $242,000. Charles Schwab Investment Management Inc. purchased a new position in Granite Ridge Resources in the 4th quarter valued at about $684,000. Geode Capital Management LLC purchased a new position in Granite Ridge Resources in the 4th quarter valued at about $953,000. Finally, Hamilton Lane Advisors LLC purchased a new position in Granite Ridge Resources in the 4th quarter valued at about $15,509,000.

Granite Ridge Resources Company Profile

(Get Rating)

Grey Rock Energy Management, LLC manages private funds with interests in areas of the Midland, Delaware, Bakken, Eagle Ford, DJ, and Haynesville play. It invests in oil and gas exploration and production. The company was formerly known as Granite Ridge Resources, Inc The company is based in Dallas, Texas.

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