Granite Ridge Resources Posts Q1 Loss Amid Higher Output

Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks Granite Ridge Resources ( (GRNT) ) has provided an announcement. On May 7, 2026, Granite Ridge Resources reported first-quarter 2026 results showing daily production up 18% year on year to 34,467 Boe, with oil volumes rising 11% and natural gas volumes up 24%. Despite higher volumes and $128.3 million in oil and gas sales, the company posted a net loss of $47.0 million, largely due to a $60.2 million non-cash hedge mark-to-market loss and an $11.2 million impairment, while adjusted net income remained modest at $3.1 million. Granite Ridge generated $71.0 million of Adjusted EBITDAX and $58.3 million in operating cash flow, invested $58.3 million in development and $10.1 million in acquisitions, and brought 1.4 net wells online, with strong initial performance from Permian wells supporting its high-graded drilling strategy. The company closed 17 acquisitions adding 3.0 net undeveloped locations, maintained net debt at 1.3x trailing Adjusted EBITDAX with $314.8 million of liquidity, paid a $0.11 per share dividend in the quarter, and its board subsequently declared another $0.11 dividend payable June 12, 2026, underscoring a focus on shareholder returns even as operating costs and hedge-related losses weighed on reported earnings. Management highlighted that maturing production and closer alignment of development spending with cash flow are expected to position Granite Ridge to generate stronger free cash flow over time, aided by low leverage and a robust hedge book. Updated 2026 guidance calls for average production of 34,000–36,000 Boe per day with oil comprising 50%–52%, and outlines $300–$330 million in development capital and $45–$55 million for acquisitions, signaling continued investment in growth while seeking to preserve balance sheet strength. The most recent analyst rating on (GRNT) stock is a Hold with a $5.50 price target. To see the full list of analyst forecasts on Granite Ridge Resources stock, see the GRNT Stock Forecast page. Spark’s Take on GRNT Stock According to Spark, TipRanks’ AI Analyst, GRNT is a Neutral. The score is primarily held back by volatile fundamentals and reduced confidence from inconsistencies in the most recent annual financial dataset, despite solid operating cash flow and generally manageable leverage. Technicals are supportive with a clear uptrend and positive momentum, while valuation is mixed (high dividend yield but a mid-to-higher P/E). Earnings call tone is constructive with moderated growth and a clearer free-cash-flow pathway, but price/basis and cost headwinds remain meaningful risks. To see Spark’s full report on GRNT stock, click here. More about Granite Ridge Resources Granite Ridge Resources, Inc. is an independent oil and natural gas company focused on acquiring and developing interests in multiple U.S. basins, including the Permian, Eagle Ford, Bakken, Haynesville, DJ and Appalachian. The Dallas-based producer targets high-return drilling opportunities through its Operated Partnership model, emphasizing disciplined capital allocation and a balanced oil and gas production mix. Average Trading Volume: 895,982 Technical Sentiment Signal: Buy Current Market Cap: $751.9M For a thorough assessment of GRNT stock, go to TipRanks’ Stock Analysis page.