How to Buy Granite Ridge Resources Stock
Granite Ridge Resources Inc
Executive Network Partnering Corporation intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar partnering transaction with one or more businesses.
Granite Ridge Resources stock last closed at $6.71, down 0.3% from the previous day, and has increased 12.21% in one year. It has underperformed other stocks in the Oil & Gas E&P industry by 0.06 percentage points. Granite Ridge Resources stock is currently +34.2% from its 52-week low of $5.00, and -17.56% from its 52-week high of $8.14.
At the moment, there are 130.45M GRNT shares outstanding. The market value of GRNT is $875.31M. In the past 24 hours, 325,304 GRNT shares were traded.
How to Buy Granite Ridge Resources Stock
Not sure how to invest in Granite Ridge Resources stock? Here's how.
- Decide where to buy Granite Ridge Resources stock: You need to choose a stock brokerage, but don't worry - we've tested dozens of online brokerages and apps to help you figure out where to buy Granite Ridge Resources stock.
- Sign up for your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
- Fund your investment account: Select your method of payment and add your info.
- Research Granite Ridge Resources stock: The Granite Ridge Resources ticker symbol is GRNT. Is Granite Ridge Resources stock a good investment? Should you buy shares of GRNT? How do GRNT's underlying business fundamentals look? Do top analysts think Granite Ridge Resources is a good buy? Why has GRNT's stock price moved recently? (Hint: Our stock analysis website can help you understand if GRNT is a good stock to buy).
- Execute your GRNT buy order: Decide if you will purchase GRNT shares at the current market price or use a limit order to buy GRNT stock at a given price.
- Keep tabs on your GRNT position: Create a watchlist to watch your investment in Granite Ridge Resources stock.
Step 1: Decide where to buy Granite Ridge Resources stock
You will need an online brokerage account to access the NYSE market and buy GRNT stock.
Our favorite brokerage: eToro
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Open eToro AccountStep 2: Sign up for your brokerage account
Now that you've selected the best brokerage, the next step is to fill out some personal info so you are able to buy GRNT today.
How to Create a New Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal info to open a new brokerage account.
- Submit your details by hitting the "Create Account" button. Get started with eToro today
Step 3: Fund your investment account
Now that you've filled out your info on one of the most highly reviewed stock market apps, you can securely and quickly fund your account:
Check out the walkthrough below if you need help depositing money into your brokerage account.
Step 4: Research Granite Ridge Resources stock
Once you have figured out the best place to buy Granite Ridge Resources stock, it's crucial to research their stock prior to buying, so you truly wrap your head around the risk as well as the upside.
Granite Ridge Resources quick stats
GRNT Zen Score
WallStreetZen was designed to help part-time investors perform more accurate fundamental analysis in minutes instead of hours.
You can see all of the due diligence checks on GRNT's stock page.
Is GRNT stock overvalued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge GRNT's fair value.
Using relative valuations methods:
- GRNT may be undervalued based on its P/E ratio of 11x, relative to Oil & Gas E&P industry P/E ratio of 13.45x
- GRNT may be undervalued based on its P/B ratio of 1.3x, relative to Oil & Gas E&P industry P/B ratio of 2.15x
You can access additional valuation research on GRNT's stock here.
GRNT Financial Overview
Positive Health Checks:
- There are more short-term assets than short-term liabilities on the GRNT balance sheet.
- GRNT has a low debt to equity ratio of 0.38.
- GRNT has cash burn of 56273000. It has enough cash and short-term investments to cover this for at least one year.
Negative Health Checks:
- GRNT has $60.86M in cash and short term investments. This is not enough to cover its annual cash burn of $56.27M.
- GRNT profit margin has gone down from 52.7% to 20.6% in the past year.
- There are more long-term liabilities than short-term assets on the GRNT balance sheet.
Is Granite Ridge Resources stock a Buy, Hold, or Sell, according to Wall Street analysts?
Out of 1 Equities analysts who give ratings on GRNT, the consensus analyst rating on GRNT is a Strong Buy
It's important to keep in mind that analyst ratings are not recommendations, nor are they investment advice.
You can dig deeper into what analysts are saying on the Granite Ridge Resources stock forecast page.
GRNT Trading Indicators
GRNT Performance Numbers
Last year, GRNT earnings were $81.10M. In the past 2 year, GRNT's earnings have gone up by -13.75% per year. This was slower than the Oil & Gas E&P industry average of 14.2%.
Last year, GRNT revenue was $394.07M. During the past four year, GRNT's revenue has gone up by 132.7% per year. This was faster than the Oil & Gas E&P industry average of 19.41%.
Learn more about GRNT's earnings and revenue performance here.
Are GRNT insiders buying or selling the stock?
Over the past 12 months, insiders at GRNT have sold more shares than they have bought.
Luke C. Brandenberg, President and CEO of GRNT, was the latest GRNT insider to sell. They sold $8,422.74 worth of GRNT shares on Mar 21, 2024.
Get more info about who owns GRNT shares here.
Does GRNT stock generate passive income?
No, Granite Ridge Resources doesn't provide an income stream by paying out dividends.
GRNT Social Trading Data
One of the biggest reasons eToro is our highest-rated brokerage is because of its social trading community.
Click below to find out what other community members have to say.
Step 5: Execute your GRNT buy order
You have two main options:
- Market order: A market order is an order to buy or sell a stock at the best price on the market.
Market orders are mostly the best for newer investors. - Limit order: A limit order enables you to buy or sell a stock at a specific price (or better).
If you want to be certain you're buying or selling at a particular dollar amount limit, use a limit order.
Click the Open button and eToro will execute the order.
If you require more help buying stocks on eToro, click the how to video below:
Step 6: Keep tabs on your GRNT position
Now that you own some GRNT shares, you'll want to keep up with your company.
Create a watchlist to get the latest updates about your GRNT stock.
GRNT Feed
How to Buy Stock in Granite Ridge Resources
To reiterate, here are the 6 steps for buying Granite Ridge Resources stock:
- Decide where to buy Granite Ridge Resources stock
- Sign up for your brokerage account
- Fund your investment account
- Research Granite Ridge Resources stock
- Execute your GRNT buy order
- Keep tabs on your GRNT position
If you need a online brokerage, eToro is our favorite venue.
Get Started with eToro TodayIf you want to get the latest news on your new investment in Granite Ridge Resources, create a watchlist on WallStreetZen today.
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