Granite Ridge Resources Inc. Reports First Quarter 2024 Results
Granite Ridge Resources, Inc. (GRNT)
Company Research
Source: Business Wire
DALLAS--(BUSINESS WIRE)--Granite Ridge Resources Inc. (“Granite Ridge” or the “Company”) (NYSE: GRNT) today reported financial and operating results for the first quarter of 2024.First Quarter 2024 HighlightsGrew production 3% to 23,842 barrels of oil equivalent (“Boe”) per day (45% oil), from 23,167 Boe per day for the first quarter of 2023.Reported net income of $16.2 million, or $0.12 per diluted share, versus $36.9 million, or $0.28 per diluted share, for the prior year period. First quarter Adjusted Net Income (non-GAAP) totaled $15.3 million, or $0.12 adjusted earnings per diluted share (non-GAAP).Generated $64.5 million of Adjusted EBITDAX (non-GAAP).Placed 5.07 net wells online.Declared dividend of $0.11 per share of common stock.Ended the first quarter of 2024 with liquidity of $123.0 million.See “Supplemental Non-GAAP Financial Measures” below for descriptions of the above non-GAAP measures as well as a reconciliation of these measures to the associated GAAP (as defined
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News
- Granite Ridge Resources, Inc. (NYSE: GRNT) had its "neutral" rating re-affirmed by analysts at Bank of America Co.. They now have a $7.00 price target on the stock.MarketBeat
- Granite Ridge Resources, Inc. (NYSE: GRNT) was upgraded by analysts at Roth Capital to a "strong-buy" rating.MarketBeat
- Granite Ridge Resources, Inc. (NYSE: GRNT) is now covered by analysts at Roth Mkm. They set a "buy" rating and a $8.80 price target on the stock.MarketBeat
- Granite Ridge Resources Declares $0.11 Quarterly Cash DividendBusiness Wire
- Granite Ridge Resources, Inc. (NYSE: GRNT) is now covered by analysts at Evercore ISI. They set an "in-line" rating and a $8.00 price target on the stock.MarketBeat
GRNT
Earnings
- 5/9/24 - Miss
GRNT
Sec Filings
- 6/20/24 - Form 4
- 6/17/24 - Form 4
- 6/17/24 - Form 4
- GRNT's page on the SEC website