Granite Ridge Resources director McCartney buys $40k in shares

Director John McCartney of Granite Ridge Resources, Inc. (EXCHANGE:GRNT) recently purchased shares of the company’s common stock in two transactions, totaling $40,480. The oil and gas company, currently valued at approximately $657 million, offers an attractive 8.8% dividend yield according to InvestingPro data.

On November 18, 2025, McCartney acquired 4,000 shares at a price of $5.07 per share. The following day, November 19, 2025, he purchased an additional 4,000 shares at $5.05 per share. Following these transactions, McCartney directly owns 103,091 shares of Granite Ridge Resources.InvestingPro analysis suggests the stock is slightly undervalued based on its Fair Value assessment, with analyst price targets reaching as high as $9 per share. InvestingPro Tips also highlight that Granite Ridge’s net income is expected to grow this year. Discover more insights in the comprehensive Pro Research Report, available for GRNT and 1,400+ other US equities.

In other recent news, Granite Ridge Resources reported a notable increase in revenue for the third quarter of 2025, reaching $112.7 million, up from $94.1 million in the same period the previous year. Despite this revenue growth, the company maintained its quarterly dividend at $0.11 per share and emphasized its enhanced liquidity position. However, in a separate development, Freedom Capital Markets downgraded Granite Ridge Resources from Buy to Hold. The downgrade was accompanied by a reduction in the price target from $7.80 to $7.00. This decision was influenced by the company’s ongoing expansion of oil and natural gas production through asset acquisitions, which has led to an increased debt burden. These developments reflect the current landscape surrounding Granite Ridge Resources, providing investors with crucial insights into the company’s financial and strategic positioning.

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