On November 13, 2024, Tyler Farquharson, Chief Financial Officer of Granite Ridge Resources Inc (GRNT, Financial), purchased 5,000 shares of the company. This transaction was documented in an SEC Filing. Following this acquisition, the insider now owns a total of 86,723 shares of Granite Ridge Resources Inc.
Granite Ridge Resources Inc is engaged in the exploration and production of oil and natural gas. The company focuses on acquiring and developing properties with significant resources but low production costs.
Over the past year, the insider has increased their holdings by purchasing a total of 27,500 shares and has not sold any shares. This pattern of buying is consistent with the overall insider activity at the company, which has seen 40 insider buys and no insider sells over the same period.
Shares of Granite Ridge Resources Inc were priced at $6.55 on the day of the insider's recent purchase, resulting in a market cap of approximately $853.758 million. The price-earnings ratio of the stock stands at 18.14, above both the industry median of 11.29 and the company’s historical median.
This insider purchase could be a signal to investors about the financial health and future prospects of Granite Ridge Resources Inc. Investors often look at insider transactions as a barometer of confidence within the company's leadership.
For more detailed valuation metrics such as price-sales ratio, price-book ratio, and price-to-free cash flow, visit the respective links.
For a deeper understanding of the stock's intrinsic value, refer to the GF Value of Granite Ridge Resources Inc.
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