Granite Ridge Resources, Inc. (NYSE:GRNT) Plans $0.11 Quarterly Dividend

Granite Ridge Resources, Inc. (NYSE:GRNT) announced a quarterly dividend on Thursday, November 6th. Stockholders of record on Friday, November 28th will be paid a dividend of 0.11 per share on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date of this dividend is Friday, November 28th.

Granite Ridge Resources has a payout ratio of 65.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Granite Ridge Resources to earn $0.71 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 62.0%.

Granite Ridge Resources Price Performance

Shares of GRNT traded down $0.35 during trading hours on Friday, hitting $5.06. 247,864 shares of the stock were exchanged, compared to its average volume of 532,259. The stock’s 50-day moving average price is $5.40 and its two-hundred day moving average price is $5.50. Granite Ridge Resources has a 12-month low of $4.52 and a 12-month high of $7.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $663.47 million, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.92 and a beta of 0.34.

Granite Ridge Resources (NYSE:GRNT) last announced its quarterly earnings data on Monday, September 11th. The company reported $0.61 earnings per share (EPS) for the quarter. Granite Ridge Resources had a net margin of 7.47% and a return on equity of 13.09%. The company had revenue of $150.27 million during the quarter. Research analysts expect that Granite Ridge Resources will post 0.52 earnings per share for the current year.

Granite Ridge Resources Company Profile

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.