Granite Ridge Resources, Inc. (GRNT) to Issue Quarterly Dividend of $0.11 on September 14th

Granite Ridge Resources, Inc. (NYSE:GRNT – Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Stockholders of record on Friday, August 28th will be paid a dividend of 0.11 per share on Monday, September 14th. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Friday, August 28th.

Granite Ridge Resources has a dividend payout ratio of 65.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Granite Ridge Resources to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 53.0%.

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Granite Ridge Resources Price Performance

Granite Ridge Resources stock opened at $5.04 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.02 and a current ratio of 1.02. Granite Ridge Resources has a 52 week low of $4.18 and a 52 week high of $6.14. The stock has a market capitalization of $665.44 million, a P/E ratio of -24.02 and a beta of 0.20. The stock has a fifty day moving average of $4.73 and a 200-day moving average of $5.11.

Granite Ridge Resources (NYSE:GRNT – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $149.27 million for the quarter, compared to analyst estimates of $139.44 million. Granite Ridge Resources had a positive return on equity of 4.67% and a negative net margin of 5.56%. On average, sell-side analysts expect that Granite Ridge Resources will post 0.43 earnings per share for the current fiscal year.

Granite Ridge Resources Company Profile

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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.

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