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

Granite Ridge Resources, Inc. (NYSE:GRNT) declared a quarterly dividend on Friday, February 13th. Shareholders of record on Friday, February 27th will be given a dividend of 0.11 per share on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date is Friday, February 27th.

Granite Ridge Resources has a dividend payout ratio of 65.7% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 2.4%

NYSE:GRNT traded down $0.13 during trading hours on Wednesday, hitting $5.01. The stock had a trading volume of 119,685 shares, compared to its average volume of 603,116. The company has a market cap of $656.91 million, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.52 and a beta of 0.35. The business has a 50 day simple moving average of $4.77 and a two-hundred day simple moving average of $5.13. Granite Ridge Resources has a 1-year low of $4.18 and a 1-year high of $6.72. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.47.

About Granite Ridge Resources

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.