GRNT

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.

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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.

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