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Granite Ridge Resources, Inc. (GRNT) Stock Forecast & Price Prediction

Live GRNT Stock Price & Analysis

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$6.13

-0.07 (-1.13%)

12 Month Price Forecast For GRNT

$6.13
Current Price
$811.92M
Market Cap
5 Ratings
Buy 3
Hold 2
Sell 0
Wall St Analyst Ratings

Distance to GRNT Price Forecasts

+43.6%
To High Target of $8.80
+14.2%
To Median Target of $7.00
+14.2%
To Low Target of $7.00

GRNT Price Momentum

-1.0%
1 Week Change
-10.0%
1 Month Change
+11.5%
1 Year Change
-5.1%
Year-to-Date Change
-13.7%
From 52W High of $7.10
+15.0%
From 52W Low of $5.33

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Disclaimer: The information provided by Ticker Nerd is for educational and informational purposes only. It should not be considered financial or investment advice. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Analyst ratings and price forecasts are sourced from Wall St analysts and other experts. These projections are speculative and do not guarantee future stock performance.

Data last updated: February 7, 2025 9:33 PM UTC

GRNT Analyst Ratings & Price Targets

Based on our analysis of 5 Wall Street analysts, GRNT has a consensus that is bullish. The median price target is $7.00, with forecasts ranging from $7.00 to $8.80. Currently, there are 3 Buy ratings, 2 Hold ratings, and 0 Sell ratings.

With GRNT currently trading at $6.13, the median price forecast suggests a 14.2% upside. The most optimistic forecast comes from John White at Roth MKM, projecting a 43.6% upside, while Stephen Richardson at Evercore ISI Group provides the most conservative target, suggesting a 14.2% upside.

Please note that analyst price targets are forward-looking estimates subject to substantial market, economic, and company-specific risks. Past performance does not guarantee future results, and actual stock performance may materially differ from these projections. Investors should conduct their own due diligence and consider their investment objectives and risk tolerance before making investment decisions.

GRNT Analyst Consensus

3
Buy
2
Hold
0
Sell

GRNT Price Target Range

Low
$7.00
Average
$7.00
High
$8.80
Current: $6.13

Latest GRNT Stock Forecasts by Analyst

These are the latest 20 analyst ratings and price targets for GRNT.

Date Firm Analyst Rating Change Price Target
Sep 30, 2024 Evercore ISI Group Stephen Richardson In-Line Maintains $7.00
Jun 14, 2024 B of A Securities Noah Hungness Neutral Reiterates $7.00
May 15, 2024 Roth MKM John White Buy Initiates $8.80
Apr 29, 2024 Evercore ISI Group Stephen Richardson In-Line Initiates $8.00
Nov 7, 2023 B of A Securities John Abbott Buy Initiates $9.00
Sep 27, 2023 Stephens & Co. Mike Scialla Overweight Initiates $0.00

Stocks Similar to Granite Ridge Resources, Inc.

The following stocks are similar to Granite Ridge based on their market capitalization and industry sector. These similar stocks potentially provide investors with alternative investment opportunities within the same market segment.

Granite Ridge Resources, Inc. (GRNT) Financial Data

Granite Ridge Resources, Inc. has a market capitalization of $811.92M with a P/E ratio of 17.3x. The company generates $358.52M in trailing twelve-month revenue with a 13.4% profit margin.

Revenue growth is -12.4% quarter-over-quarter, while maintaining an operating margin of +41.1% and return on equity of +7.3%.

Valuation Metrics

Market Cap $811.92M
Enterprise Value $954.86M
P/E Ratio 17.3x
PEG Ratio 10.5x
Price/Sales 2.3x

Growth & Margins

Revenue Growth (YoY) -12.4%
Gross Margin +32.5%
Operating Margin +41.1%
Net Margin +13.4%
EPS Growth -49.6%

Financial Health

Cash/Price Ratio +6.3%
Current Ratio 1.6x
Debt/Equity 29.5x
ROE +7.3%
ROA +8.0%

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Granite Ridge Resources, Inc. (GRNT) Company Overview

About Granite Ridge Resources, Inc.

What They Do

Non-operated oil and gas exploration company.

Business Model

The company generates revenue by owning a diverse portfolio of oil and gas wells and acreage, primarily in the Permian Basin and other unconventional areas in the U.S. It operates as a non-operated entity, meaning it partners with operators to explore and produce resources without directly managing the operations, allowing it to focus on asset management and strategic investments.

Additional Information

Granite Ridge Resources is based in Dallas, Texas, and benefits from the growing demand for energy resources in the U.S. market, making it an appealing option for investors looking to capitalize on the oil and gas sector.

Company Information

Sector

Energy

Industry

Oil & Gas E&P

Employees

2

CEO

Mr. Luke C. Brandenberg

Country

United States

IPO Year

2022

Granite Ridge Resources, Inc. (GRNT) Latest News & Analysis

GRNT stock latest news image
Quick Summary

Asure Software, Granite Ridge Resources, and Priority Technology Holdings have been identified as today's breakout stocks.

Why It Matters

Breakout stocks indicate strong potential for price increases, signaling opportunities for gains. Monitoring these can inform investment strategies and portfolio adjustments.

Source: Zacks Investment Research
Market Sentiment: Positive
GRNT stock latest news image
Quick Summary

Northern Oil and Gas has proposed an acquisition of Granite Ridge Resources, a smaller U.S. producer active in the Permian and Eagle Ford basins.

Why It Matters

Northern Oil and Gas' acquisition of Granite Ridge Resources could enhance its resource base and operational efficiency, impacting growth potential and market competitiveness.

Source: Reuters
Market Sentiment: Positive
GRNT stock latest news image
Quick Summary

Granite Ridge anticipates mid-teens production growth in 2025, with over 20% in oil. 2025 capex is expected to be lower than 2024 due to prior spending driving growth.

Why It Matters

Granite Ridge's projected production growth and lower capex suggest improved profitability and operational efficiency, potentially boosting investor confidence and stock performance.

Source: Seeking Alpha
Market Sentiment: Neutral
GRNT stock latest news image
Quick Summary

Granite Ridge Resources, Inc. (NYSE: GRNT) will hold its Q3 2024 earnings conference call on November 8, 2024, at 11:00 AM ET. Key executives will present, with analysts participating.

Why It Matters

Granite Ridge Resources' Q3 earnings call signals key financial insights and performance metrics, impacting stock valuations and investor sentiment.

Source: Seeking Alpha
Market Sentiment: Neutral
GRNT stock latest news image
Quick Summary

Granite Ridge Resources, Inc. reported Q3 2024 results: average production of 25,177 Boe/day, net income of $9.1M ($0.07/share), and adjusted net income of $18.5M ($0.14/share).

Why It Matters

Granite Ridge's strong production figures and positive earnings indicate robust operational performance, potentially enhancing investor confidence and driving stock value.

Source: Business Wire
Market Sentiment: Neutral
GRNT stock latest news image
Quick Summary

Granite Ridge Resources, Inc. (GRNT) reported Q3 earnings of $0.14 per share, surpassing estimates of $0.13, but down from $0.21 per share year-over-year.

Why It Matters

Granite Ridge's earnings beat expectations, indicating strong performance despite a year-over-year decline, which may impact investor sentiment and stock valuation.

Source: Zacks Investment Research
Market Sentiment: Positive

Frequently Asked Questions About GRNT Stock

What is Granite Ridge Resources, Inc.'s (GRNT) stock forecast for 2025?

Based on our analysis of 5 Wall Street analysts, Granite Ridge Resources, Inc. (GRNT) has a median price target of $7.00. The highest price target is $8.80 and the lowest is $7.00.

Is GRNT stock a good investment in 2025?

According to current analyst ratings, GRNT has 3 Buy ratings, 2 Hold ratings, and 0 Sell ratings. The stock is currently trading at $6.13. Always conduct your own research and consider your investment goals before making investment decisions.

What is the price prediction for GRNT stock?

Wall Street analysts predict GRNT stock could reach $7.00 in the next 12 months. This represents a 14.2% increase from the current price of $6.13. Please note that this is a projection by Wall Street analysts and not a guarantee.

What is Granite Ridge Resources, Inc.'s business model?

The company generates revenue by owning a diverse portfolio of oil and gas wells and acreage, primarily in the Permian Basin and other unconventional areas in the U.S. It operates as a non-operated entity, meaning it partners with operators to explore and produce resources without directly managing the operations, allowing it to focus on asset management and strategic investments.

What is the highest forecasted price for GRNT Granite Ridge Resources, Inc.?

The highest price target for GRNT is $8.80 from John White at Roth MKM, which represents a 43.6% increase from the current price of $6.13.

What is the lowest forecasted price for GRNT Granite Ridge Resources, Inc.?

The lowest price target for GRNT is $7.00 from Stephen Richardson at Evercore ISI Group, which represents a 14.2% increase from the current price of $6.13.

What is the overall GRNT consensus from analysts for Granite Ridge Resources, Inc.?

The overall analyst consensus for GRNT is bullish. Out of 5 Wall Street analysts, 3 rate it as Buy, 2 as Hold, and 0 as Sell, with a median price target of $7.00.

How accurate are GRNT stock price projections?

Stock price projections, including those for Granite Ridge Resources, Inc., are based on various factors including financial models, market conditions, and analyst forecasts. While these predictions provide valuable insights, they should be considered alongside your own research and risk tolerance.