Granite Ridge Resources shares rise as GRNT reports 18% production growth, dividend

Granite Ridge Resources (NYSE: GRNT) shares rose 5.6% in afternoon trading on May 14, 2026, after the oil and gas producer reported first-quarter 2026 production growth and declared a quarterly dividend. The company said production averaged 34,467 barrels of oil equivalent per day, up 18% from a year earlier. Granite Ridge also reported $71.0 million in adjusted EBITDAX and declared a quarterly dividend of $0.11 per share. The gain followed a 10.3% drop three days earlier after first-quarter results missed Wall Street estimates. Revenue of $128.3 million came in below expectations, while adjusted EPS of $0.02 missed consensus by 82.8%. Operating margin fell to 11.6% from 34.6% a year earlier, and free cash flow turned negative at $2.03 million from positive $9.36 million. The stock is up 12.3% year to date at $5.26, but remains 21.1% below its 52-week high of $6.66 reached in June 2025.