A share price of Granite Ridge Resources Inc [GRNT] is currently trading at $6.85, up 3.32%. An important factor to consider is whether the stock is rising or falling in short-term value. The GRNT shares have gain 3.79% over the last week, with a monthly amount glided 12.11%, and seem to be holding up well over a long-time horizon.
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On 4, April 2024, Granite Ridge Announces Expansion of Revolving Credit Facility. In a post published today on Yahoo Finance, Granite Ridge Resources, Inc. (“Granite Ridge” or the “Company”) (NYSE: GRNT) today announced the successful completion of its semi-annual borrowing base redetermination and entry into the third amendment to the Company’s existing credit agreement (the “Third Amendment”).
From an analyst’s perspective:
Granite Ridge Resources Inc [NYSE: GRNT] stock has seen the most recent analyst activity on November 07, 2023, when BofA Securities initiated its Buy rating and assigned the stock a price target of $9. Previously, Stephens started tracking the stock with Overweight rating on September 27, 2023, and set its price target to $8.
Granite Ridge Resources Inc experienced fluctuations in its stock price throughout the past year between $5.00 and $8.14. Granite Ridge Resources Inc [NYSE: GRNT] shares were valued at $6.85 at the most recent close of the market.
Analyzing the GRNT fundamentals
Trailing Twelve Months sales for Granite Ridge Resources Inc [NYSE:GRNT] were 394.07M which represents -54.39% decline. Gross Profit Margin for this corporation currently stands at 0.67% with Operating Profit Margin at 0.3%, Pretax Profit Margin comes in at 0.28%, and Net Profit Margin reading is 0.21%. To continue investigating profitability, this company’s Return on Assets is posted at 0.09, Equity is 0.12 and Total Capital is 0.13. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.16.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 6.65 points at the first support level, and at 6.45 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.95, and for the 2nd resistance point, it is at 7.05.
Granite Ridge Resources Inc [GRNT] reported earnings per share of $0.2 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.2/share, meaning a difference of $0 and a surprise factor of 0.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.21 per share as compared to estimates of $0.24 per share, a difference of -$0.03 representing a surprise of -12.50%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Granite Ridge Resources Inc [NYSE:GRNT] is 2.44. On the other hand, the Quick Ratio is 2.44, and the Cash Ratio is 0.17. Considering the valuation of this stock, the price to sales ratio is 2.27, the price to book ratio is 1.33 and price to earnings (TTM) ratio is 11.26.
Transactions by insiders
Recent insider trading involved Farquharson Tyler, Chief Financial Officer, that happened on Mar 15 ’24 when 5000.0 shares were purchased. President and CEO, Brandenberg Luke C completed a deal on Mar 15 ’24 to buy 5000.0 shares. Meanwhile, Director MCCARTNEY JOHN bought 2000.0 shares on Mar 15 ’24.
