Granite Ridge Resources: Insider Buying Reaches $1.28M, Directors Optimistic About Company's Future

Granite Ridge Resources insiders have collectively purchased $287,000 worth of shares in the last year, with the largest purchase being $252,000 by Co-Chairman Matthew Miller. Insider ownership stands at $21 million, or 3.3% of the company. This indicates a positive outlook on the company's future prospects.

Granite Ridge Resources, Inc. (GRNT) has seen significant insider activity in the past year, with insiders collectively purchasing $287,000 worth of shares. The largest purchase, valued at $252,000, was made by Co-Chairman Matthew Miller. This indicates a positive outlook on the company's future prospects, as insider ownership now stands at $21 million, or 3.3% of the company [1].

Wall Street analysts expect flat earnings for the quarter ended June 2025, with a consensus EPS estimate of $0.13 per share, representing no change from the year-ago quarter. Revenues are expected to increase by 19.5% to $108.28 million [1]. The consensus estimate has been revised 24.32% lower over the last 30 days, reflecting analysts' reassessment of their initial estimates [1].

Granite Ridge Resources, Inc. has an Earnings ESP of 0%, indicating no recent analyst revisions that differ from the consensus estimate. The stock carries a Zacks Rank of #3, making it difficult to conclusively predict an earnings beat [1]. Over the last four quarters, the company has beaten consensus EPS estimates three times [1].

The company's upcoming earnings report, scheduled for August 7, will be closely watched. While an earnings beat or miss may not be the sole basis for stock movement, it will certainly influence investor sentiment. Investors should also consider other factors, such as management's discussion of business conditions on the earnings call, to gauge the company's near-term prospects [1].

In the broader context, Granite Ridge Resources, Inc. operates in the Zacks Oil and Gas - Exploration and Production - United States industry. Another notable player in this sector, Civitas Resources, Inc. (CIVI), is expected to post earnings of $1.12 per share for the quarter ended June 2025, indicating a year-over-year change of -45.6% [1].

Investors should stay informed about upcoming earnings announcements using tools like the Zacks Earnings Calendar. For more insights, consider visiting Zacks Investment Research [1].

References:
[1] https://www.nasdaq.com/articles/granite-ridge-resources-inc-grnt-q2-earnings-preview-whats-cards