On December 6, 2024, Matthew Miller, a Director at Granite Ridge Resources Inc (GRNT, Financial), purchased 41,000 shares of the company. Following this transaction, the insider now owns a total of 772,491 shares. The purchase was documented in an SEC Filing.
Granite Ridge Resources Inc is engaged in the exploration and production of oil and natural gas. The company focuses on acquiring and developing oil and gas properties in the United States.
The insider's recent acquisition is part of a broader trend within the company. Over the past year, there have been 41 insider buys and no insider sells at Granite Ridge Resources Inc. This trend indicates a consistent pattern of insider confidence in the company's prospects.
On the day of the purchase, shares of Granite Ridge Resources Inc were trading at $6.10 each, resulting in a market cap of $799.497 million. The company's price-earnings ratio stands at 16.99, which is higher than the industry median of 11.67 and also higher than the company's historical median price-earnings ratio.
In the past year, Matthew Miller has purchased a total of 121,616 shares and has not sold any shares. This activity reflects a strong commitment to the company's future performance.
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