Granite Ridge Resources (GRNT) Price Target Increased by 10.87% to 8.67

The average one-year price target for Granite Ridge Resources (NYSE:GRNT) has been revised to 8.67 / share. This is an increase of 10.87% from the prior estimate of 7.82 dated March 28, 2024.

The price target is an average of many targets provided by analysts. The latest targets range from a low of 8.08 to a high of 9.45 / share. The average price target represents an increase of 29.99% from the latest reported closing price of 6.67 / share.

Granite Ridge Resources Declares $0.11 Dividend

On February 15, 2024 the company declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Shareholders of record as of March 1, 2024 received the payment on March 15, 2024. Previously, the company paid $0.11 per share.

At the current share price of $6.67 / share, the stock's dividend yield is 6.60%.

Looking back five years and taking a sample every week, the average dividend yield has been 5.38%, the lowest has been 3.26%, and the highest has been 10.20%. The standard deviation of yields is 1.57 (n=157).

The current dividend yield is 0.77 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.88. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.20%.

What is the Fund Sentiment?

There are 209 funds or institutions reporting positions in Granite Ridge Resources. This is an increase of 35 owner(s) or 20.11% in the last quarter. Average portfolio weight of all funds dedicated to GRNT is 0.32%, an increase of 20.49%. Total shares owned by institutions increased in the last three months by 42.95% to 43,675K shares. GRNT / Granite Ridge Resources, Inc. Put/Call Ratios The put/call ratio of GRNT is 0.16, indicating a bullish outlook.

What are Other Shareholders Doing?

GRNT / Granite Ridge Resources, Inc. Shares Held by Institutions

Hamilton Lane Advisors holds 8,411K shares representing 6.45% ownership of the company. No change in the last quarter.

Spider Management Company holds 5,526K shares representing 4.24% ownership of the company.

Utah Retirement Systems holds 5,244K shares representing 4.02% ownership of the company. No change in the last quarter.

Georgetown University holds 2,628K shares representing 2.01% ownership of the company.

Northwestern University holds 2,505K shares representing 1.92% ownership of the company. In it's prior filing, the firm reported owning 5,024K shares, representing a decrease of 100.59%. The firm decreased its portfolio allocation in GRNT by 43.31% over the last quarter.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.