Granite Ridge Resources
Owns interests in oil and gas wells across major U.S. basins.
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Profile
Owns interests in U.S. oil and natural gas wells, with exposure across six unconventional basins. Revenue comes from produced commodities, while third-party operators and Grey Rock services shape execution.
Holds oil and natural gas interests across the Permian, Eagle Ford, Bakken, Haynesville, DJ, and Appalachian basins. The portfolio combines operated partnerships with traditional non-operated working interests, giving the company exposure to wells run by public and private operators.
Revenue comes from selling produced oil and natural gas in the United States. The model depends on sourcing acreage and well interests, allocating capital alongside operators, and using a small Dallas team supported by Grey Rock Administration.
Commodity prices, reserve replacement, third-party operator performance, and U.S. oil-and-gas regulation shape the business.
Company facts
Key statistics
Year to date +8.3% · Average volume (30d) 852.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Jul 8, 2026 | Northland Securities | Target | $9 | ||
| May 8, 2026 | Stephens | Target | $11 | ||
| Nov 13, 2025 | Freedom Broker | Downgrade | Buy | Hold |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.08 | $0.09 | +19.8% | $139.4M | $149.3M | +7.1% | +4.72% |
| May 7, 2026Q1 FY26 | $0.09 | $0.02 | −77.8% | $126.7M | $128.3M | +1.3% | −10.71% |
| Mar 5, 2026Q4 FY25 | $0.10 | $0.01 | −90.0% | $117.1M | $105.5M | −9.9% | −5.99% |
| Nov 6, 2025Q3 FY25 | $0.14 | $0.09 | −35.7% | $120.8M | $112.7M | −6.7% | −4.63% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $122.9M | $109.2M | $112.7M | $105.5M | $128.3M | $149.3M | |
| Gross profit | $49.9M | $29.3M | $26.6M | $16.4M | $35.4M | $57.4M | |
| Operating income | $42.5M | $20.7M | $19.6M | $8.2M | $26.3M | $39.0M | |
| Net income | $9.8M | $25.1M | $14.5M | −$25.1M | −$47.0M | $30.0M | |
| Diluted EPS | $0.07 | $0.19 | $0.11 | −$0.19 | −$0.36 | $0.23 | |
| Gross margin | 40.6% | 26.8% | 23.6% | 15.6% | 27.6% | 38.4% | |
| Operating margin | 34.6% | 19.0% | 17.4% | 7.8% | 20.5% | 26.1% |
Fiscal years (4-quarter sums)FY21 $192.0M · FY22 $497.4M · FY23 $394.1M · FY24 $380.0M · FY25 $450.3M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $44.1M · Total debt $462.1M · Total assets $1.24B · Shareholders' equity $562.4M
Dividends
Raised for 2 straight years — most recently to $0.11 from $0.08 in Feb 2023. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 28, 2026 | Aug 28 | Sep 14 | $0.11 | |
| May 29, 2026 | May 29 | Jun 12 | $0.11 | |
| Feb 27, 2026 | Feb 27 | Mar 13 | $0.11 | |
| Nov 28, 2025 | Nov 28 | Dec 15 | $0.11 | |
| Aug 29, 2025 | Aug 29 | Sep 15 | $0.11 | |
| May 30, 2025 | May 30 | Jun 13 | $0.11 | |
| Feb 28, 2025 | Feb 28 | Mar 14 | $0.11 | |
| Nov 29, 2024 | Nov 29 | Dec 16 | $0.11 |
Ownership
Shares outstanding 131.90M · Float 65.39M · 49.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Grey Rock Energy Partners GP III, L.P. | 51.65M | 39.20% | 13D | Aug 21, 2026 |
| Hamilton Lane Advisors LLC | 6.76M | 5.13% | 13F | Jul 13, 2026 |
| Utah Retirement Systems | 5.24M | 3.98% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 4.97M | 3.77% | 13F | Aug 7, 2026 |
| Dimensional Fund Advisors LP | 3.94M | 2.99% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 13, 2026 | Michele J. Everard | director | +1,000 | $5.00 |
| Aug 13, 2026 | John Mccartney | director | +2,000 | $5.00 |
| Jun 12, 2026 | Matthew Reade Miller | director | +696 | $4.97 |
| Jun 10, 2026 | John Mccartney | director | +4,000 | $4.96 |
| Jun 9, 2026 | Matthew Reade Miller | director | +10,600 | $4.75 |
Peers
- Northern Oil and Gas
Largest public non-operated upstream peer across several U.S. basins
- Vitesse Energy
Non-operated Bakken-focused peer with Central Rockies exposure
- Crescent Energy
Acquisition-driven E&P with Eagle Ford, Permian, and Uinta scale
- Permian Resources
Large pure-play Permian E&P competing for core Delaware Basin assets
- SM Energy
Scaled shale operator overlapping in Permian, DJ, and South Texas
- Magnolia Oil & Gas
South Texas operator centered on Eagle Ford and Austin Chalk assets
- Comstock Resources
Haynesville natural-gas producer competing in the same gas basin
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Granite Ridge Resources | $5.06 | −0.20% | $667.4M | — | 8.7 | 1.3 | +36.7% |
| Northern Oil and Gas | $25.86 | +0.51% | $2.80B | — | 6.5 | 1.3 | +28.9% |
| Vitesse Energy | $17.19 | +0.12% | $723.8M | — | 149.3 | 2.5 | +11.3% |
| Crescent Energy | $13.76 | +1.77% | $4.47B | — | 6.4 | 1.0 | +55.3% |
| Permian Resources | $22.86 | +0.82% | $19.01B | 15.0 | 10.3 | 3.3 | +55.2% |
| SM Energy | $36.27 | −1.01% | $8.78B | 9.5 | 5.3 | 1.6 | +218.4% |
| Magnolia Oil & Gas | $26.25 | +0.02% | $6.22B | 11.4 | 9.1 | 4.2 | +50.1% |
| Comstock Resources | $14.40 | +0.73% | $4.20B | 8.2 | 32.8 | 2.2 | −24.9% |
| Median | 10.5 | 9.1 | 2.2 | +50.1% |