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Director John McCartney of Granite Ridge Resources, Inc. (NASDAQ:GRNT), a $684 million market cap company offering an attractive 8.4% dividend yield, recently purchased 5,000 shares of the company’s common stock at $5.30, according to a Form 4 filing with the Securities and Exchange Commission. The total value of the purchase amounted to $26,500. According to InvestingPro analysis, the stock currently appears undervalued relative to its Fair Value.
The transaction, which took place on August 15, 2025, increased McCartney’s direct ownership in Granite Ridge Resources to 77,117 shares. InvestingPro data reveals that net income is expected to grow this year, with 5 additional key insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Granite Ridge Resources Inc (NYSE:GRNT) reported a strong performance in its Q2 2025 earnings call. The company saw a 20% year-over-year increase in total oil and gas sales revenue, marking a significant boost in its financial results. Additionally, Granite Ridge announced a rise in production levels and raised its full-year production guidance, contributing to increased market confidence. These developments reflect a robust operational performance and a positive outlook for the remainder of the year. The company’s recent achievements have been well-received by investors, reflecting optimism about its growth trajectory.
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