Currently, there are 130.74M common shares owned by the public and among those 53.70M shares have been available to trade.
The company’s stock has a 5-day price change of -0.87% and 13.83% over the past three months. GRNT shares are trading 5.73% year to date (YTD), with the 12-month market performance up to 26.25% higher. It has a 12-month low price of $5.20 and touched a high of $7.10 over the same period. GRNT has an average intraday trading volume of 573.17K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.19%, 6.74%, and 7.19% respectively.
Institutional ownership of Granite Ridge Resources Inc (NYSE: GRNT) shares accounts for 26.83% of the company’s 130.74M shares outstanding.
It has a market capitalization of $892.98M and a beta (3y monthly) value of 0.20. The stock’s trailing 12-month PE ratio is 18.70, while the earnings-per-share (ttm) stands at $0.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.97% over the week and 3.65% over the month.
Earnings per share for the fiscal year are expected to decrease by -39.46%, and 35.99% over the next financial year.
Looking at the support for the GRNT, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on June 14, 2024, with the firm’s price target at $7. ROTH MKM coverage for the Granite Ridge Resources Inc (GRNT) stock in a research note released on May 15, 2024 offered a Buy rating with a price target of $8.80. BofA Securities was of a view on November 07, 2023 that the stock is Buy, while Stephens gave the stock Overweight rating on September 27, 2023, issuing a price target of $8.
