Granite Ridge Resources Stock Market Value
| GRNT Stock | USD 6.67 0.11 1.62% |
| Symbol | Granite |
Granite Ridge Resources Price To Book Ratio
Is Oil & Gas Exploration & Production space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Granite Ridge. If investors know Granite will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Granite Ridge listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.47) | Dividend Share 0.44 | Earnings Share 0.36 | Revenue Per Share 2.744 | Quarterly Revenue Growth (0.12) |
The market value of Granite Ridge Resources is measured differently than its book value, which is the value of Granite that is recorded on the company's balance sheet. Investors also form their own opinion of Granite Ridge's value that differs from its market value or its book value, called intrinsic value, which is Granite Ridge's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Granite Ridge's market value can be influenced by many factors that don't directly affect Granite Ridge's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Granite Ridge's value and its price as these two are different measures arrived at by different means. Investors typically determine if Granite Ridge is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Granite Ridge's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Granite Ridge 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Granite Ridge's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Granite Ridge.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Granite Ridge on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Granite Ridge Resources or generate 0.0% return on investment in Granite Ridge over 30 days. Granite Ridge is related to or competes with Devon Energy, ConocoPhillips, Occidental Petroleum, Permian Resources, EOG Resources, Coterra Energy, and Range Resources. Granite Ridge Resources, Inc. manages private funds with interests in areas of the Midland, Delaware, Bakken, Eagle Ford... More
Granite Ridge Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Granite Ridge's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Granite Ridge Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.99 | |||
| Information Ratio | 0.0171 | |||
| Maximum Drawdown | 8.43 | |||
| Value At Risk | (3.47) | |||
| Potential Upside | 2.76 |
Granite Ridge Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Granite Ridge's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Granite Ridge's standard deviation. In reality, there are many statistical measures that can use Granite Ridge historical prices to predict the future Granite Ridge's volatility.| Risk Adjusted Performance | 0.0716 | |||
| Jensen Alpha | 0.0076 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | 0.0164 | |||
| Treynor Ratio | 0.1271 |
Granite Ridge Resources Backtested Returns
Currently, Granite Ridge Resources is somewhat reliable. Granite Ridge Resources holds Efficiency (Sharpe) Ratio of 0.0451, which attests that the entity had a 0.0451% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for Granite Ridge Resources, which you can use to evaluate the volatility of the firm. Please check out Granite Ridge's market risk adjusted performance of 0.1371, and Risk Adjusted Performance of 0.0716 to validate if the risk estimate we provide is consistent with the expected return of 0.086%. Granite Ridge has a performance score of 3 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 1.21, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Granite Ridge will likely underperform. Granite Ridge Resources right now retains a risk of 1.91%. Please check out Granite Ridge value at risk, and the relationship between the standard deviation and kurtosis , to decide if Granite Ridge will be following its current trending patterns.
Auto-correlation | 0.52 |
Modest predictability
Granite Ridge Resources has modest predictability. Overlapping area represents the amount of predictability between Granite Ridge time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Granite Ridge Resources price movement. The serial correlation of 0.52 indicates that about 52.0% of current Granite Ridge price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Granite Ridge Resources lagged returns against current returns
Autocorrelation, which is Granite Ridge stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Granite Ridge's stock expected returns. We can calculate the autocorrelation of Granite Ridge returns to help us make a trade decision. For example, suppose you find that Granite Ridge has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Granite Ridge regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Granite Ridge stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Granite Ridge stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Granite Ridge stock over time.
Current vs Lagged Prices |
| Timeline |
Granite Ridge Lagged Returns
When evaluating Granite Ridge's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Granite Ridge stock have on its future price. Granite Ridge autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Granite Ridge autocorrelation shows the relationship between Granite Ridge stock current value and its past values and can show if there is a momentum factor associated with investing in Granite Ridge Resources.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Granite Stock Analysis
When running Granite Ridge's price analysis, check to measure Granite Ridge's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Granite Ridge is operating at the current time. Most of Granite Ridge's value examination focuses on studying past and present price action to predict the probability of Granite Ridge's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Granite Ridge's price. Additionally, you may evaluate how the addition of Granite Ridge to your portfolios can decrease your overall portfolio volatility.