On November 15, 2024, Luke Brandenberg, President and CEO of Granite Ridge Resources Inc (GRNT, Financial), purchased 5,000 shares of the company. This transaction was documented in a recent SEC Filing. Following this acquisition, the insider now owns a total of 96,633 shares of Granite Ridge Resources Inc.
Granite Ridge Resources Inc is engaged in the exploration, development, and production of oil and natural gas properties in the United States. The company's focus is on leveraging technology and innovation to achieve efficient and responsible resource development.
Over the past year, Luke Brandenberg has increased his holdings in the company by purchasing a total of 25,000 shares. There have been no sales recorded by the insider during this period. The broader trend within the company also reflects a positive sentiment, with a total of 39 insider buys and no insider sales over the past year.
Shares of Granite Ridge Resources Inc were priced at $6.5 on the day of the insider's recent purchase. The company's market cap stands at $864.218 million. The price-earnings ratio of the stock is 18.36, which is above both the industry median of 11.515 and the historical median for the company.
This insider buying activity could be a signal to investors about the insider’s confidence in the future prospects of Granite Ridge Resources Inc. For more detailed valuation metrics such as GF Value, price-sales ratio, price-book ratio, and price-to-free cash flow, interested parties are encouraged to visit the respective links.
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