Granite Ridge Resources CEO acquires $35,380 in common stock

Granite Ridge Resources, Inc. (NASDAQ:GRNT), a $754 million market cap energy company, saw its President and CEO Luke C. Brandenberg recently acquire 6,100 shares of the company’s common stock. The transaction, which took place on June 4, 2025, was executed at a price of $5.80 per share, amounting to a total value of $35,380. According to InvestingPro data, the stock currently offers an attractive 7.6% dividend yield.

Following this acquisition, Brandenberg’s total direct ownership in Granite Ridge Resources stands at 157,267 shares. The purchase reflects continued confidence in the company’s prospects by its top executive, with analyst price targets ranging from $5.50 to $9.00 per share. InvestingPro analysis reveals several more positive indicators for the stock, including strong recent returns and growth expectations. Subscribers can access the comprehensive Pro Research Report for deeper insights into GRNT’s valuation and prospects.

In other recent news, Granite Ridge Resources reported strong financial results for the first quarter of 2025. The company announced a substantial increase in revenue, reaching $122.9 million, which is a $34 million rise from the previous year. Adjusted net income saw an 89% growth, amounting to $28.9 million or $0.22 per share. Additionally, Granite Ridge Resources achieved a production rate of 29,000 barrels of oil equivalent per day, with oil volumes increasing by 39% and natural gas volumes by 10%. The company also reduced its Lease Operating Expense to $6.17 per BOE, marking a 13% decrease. In terms of corporate governance, Granite Ridge Resources disclosed the election of Griffin Perry and Amanda Coussens as Class III directors, with their terms extending to 2028. Furthermore, the company ratified Forvis Mazars LLP as its independent registered public accounting firm for 2025. These developments reflect Granite Ridge Resources’ strategic focus on growth and operational efficiency.

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