GRNT
Granite Ridge Resources, INC
NYSE
Form 4: Granite Ridge Resources Director Matthew Miller Buys 17,000 Shares
Sentiment:
Insider Trading Report
16 June 2025 10:52 AM
Granite Ridge Resources, Inc. Director Matthew Reade Miller acquired 17,000 shares of common stock at a weighted average price of $5.98 per share on June 16, 2025.
Better than expected
The purchase of shares by a director is generally viewed as a positive signal, indicating management's belief that the stock is undervalued or that future prospects are strong.
Summary
- Matthew Reade Miller, a Director of Granite Ridge Resources, Inc. (GRNT), purchased 17,000 shares of the company's common stock.
- The transaction occurred on June 16, 2025.
- The shares were acquired at a weighted average price of $5.98 per share, with individual trades ranging from $5.94 to $6.00.
- Following this transaction, Mr. Miller directly beneficially owns 1,261,877 shares of Granite Ridge Resources, Inc. common stock.
- The purchase was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.
Sentiment
Score: 8
Explanation: Insider buying, especially by a director, is generally a strong positive signal as it indicates confidence from someone with intimate knowledge of the company's operations and future prospects. The purchase was also significant in volume relative to the transaction price.
Positives
- Insider buying by a Director, Matthew Reade Miller, indicates confidence in the company's future prospects.
- The acquisition of 17,000 shares adds to the director's significant existing holding of 1,261,877 shares, aligning his interests with shareholders.
Future Outlook
NA
Industry Context
This Form 4 filing details an insider stock purchase by a director of Granite Ridge Resources, an energy company. While specific to this company, insider buying can be a general indicator of management's confidence within their respective industry, suggesting a positive outlook on the company's position or future performance relative to its peers.
Stakeholder Impact
- Shareholders: The insider purchase may instill confidence among existing shareholders and attract new investors, potentially leading to positive share price movement due to increased demand and perceived value.
Related Party Transactions
- The reported transaction itself is a related party transaction, as it involves a director purchasing shares from the company or on the open market.
Key Dates
- 06/16/2025: Date of earliest transaction and filing date for the Form 4.
Keywords
Granite Ridge Resources, GRNT, Insider Trading, Form 4, Stock Purchase, Director, Matthew Reade Miller, Equity Acquisition, SEC Filing, 10b5-1 Plan
GRNT
Granite Ridge Resources, INC
NYSE
Sector: Energy
Filings with Classifications
Better than expected
16 June 2025 10:52 AM
Insider Trading Report
- The purchase of shares by a director is generally viewed as a positive signal, indicating management's belief that the stock is undervalued or that future prospects are strong.
Worse than expected
8 May 2025 4:18 PM
Quarterly Report
- Net income decreased from $16.227 million to $9.812 million year-over-year.
- The average realized oil price decreased from $78.27 to $69.13 year-over-year.
- The company reported a net loss on commodity derivatives of $14.857 million compared to a loss of $3.161 million year-over-year.
- The company reported a loss on equity investments of $9.971 million compared to a gain of $7.779 million year-over-year.
Better than expected
8 May 2025 4:09 PM
Quarterly Report
- The company's Adjusted EBITDAX exceeded internal forecasts.
- The company had 13.7 net wells turned in-line (TIL) during the first quarter 2025, compared to 5.1 net wells TIL in the first quarter of 2024.
- The company's borrowing base was increased to $375.0 million, boosting liquidity to $140.8 million.
Worse than expected
6 March 2025 5:15 PM
Annual Results
- Net income decreased from $81.099 million in 2023 to $18.759 million in 2024.
- Average sales price of oil decreased from $76.18 per Bbl in 2023 to $73.06 per Bbl in 2024.
- Average sales price of natural gas decreased from $2.72 per Mcf in 2023 to $1.88 per Mcf in 2024.
Better than expected
6 March 2025 4:10 PM
Earnings Release
- The company's projected 16% increase in production for 2025 is better than previous performance and potentially better than some industry expectations.
Worse than expected
7 November 2024 5:21 PM
Quarterly Report
- The company's net income decreased significantly compared to the same period last year.
- The company's revenue decreased due to lower natural gas prices and production.
- The company experienced a loss on equity investments.
Better than expected
7 November 2024 4:13 PM
Quarterly Report
- The company exceeded expectations in production, adjusted EBITDA, LOE, and G&A.
Better than expected
4 November 2024 4:15 PM
Credit Agreement Amendment
- The company has increased its borrowing capacity and commitment amounts, providing more financial flexibility.
Worse than expected
8 August 2024 4:23 PM
Quarterly Report
- Net income decreased significantly compared to the same periods in the previous year due to lower natural gas prices, losses on equity investments, and increased interest expense.
Worse than expected
9 May 2024 5:17 PM
Quarterly Report
- Net income decreased significantly compared to the same period last year, indicating worse than expected results.
- Total revenue decreased by 3% year-over-year, indicating worse than expected results.
Better than expected
9 May 2024 4:26 PM
Quarterly Report
- The company beat internal projections across the board.
Better than expected
4 April 2024 4:15 PM
Credit Facility Amendment Announcement
- The company successfully increased its borrowing base and elected commitments, indicating better than expected financial strength and lender confidence.
Worse than expected
8 March 2024 5:18 PM
Annual Results
- The company's revenue decreased significantly due to lower realized prices, indicating worse than expected results.
- The company recorded a significant impairment expense, indicating worse than expected asset values.
- The company's net income decreased significantly, indicating worse than expected profitability.
Better than expected
7 March 2024 4:16 PM
Quarterly Report
- The company's production growth of 18% in Q4 and 23% for the full year exceeded expectations.
- The company's proved reserves increased by 6%, indicating a strong asset base.
- The company's 2024 production guidance of a 7% increase is positive and suggests continued growth.
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