Granite Ridge director John McCartney buys $25,200 in stock

John McCartney, a director at Granite Ridge Resources, Inc. (NYSE:GRNT), recently increased his holdings in the company through a stock purchase. The transaction, which took place on September 1, 2026, involved the acquisition of common stock.

Mr. McCartney purchased 5,000 shares of Granite Ridge Resources common stock at a price of $5.04 per share. The total value of this acquisition amounted to $25,200. Following this transaction, Mr. McCartney directly holds 154,143 shares of the company’s common stock.The insider purchase comes as Granite Ridge Resources trades near $5.16, which InvestingPro analysis suggests is undervalued compared to its Fair Value estimate. The stock offers an attractive 8.7% dividend yield, and while the company wasn’t profitable over the last twelve months, analysts forecast a return to profitability in 2026 with projected earnings of $0.35 per share. These insights are part of InvestingPro’s comprehensive analysis, which includes 7 additional ProTips and detailed metrics for GRNT. Investors seeking deeper insights can access the full Pro Research Report, available for over 1,400 US equities.

In other recent news, Granite Ridge Resources reported second-quarter 2026 earnings that exceeded Wall Street’s expectations. The company announced adjusted earnings of $0.09 per share on revenue of $149.27 million, surpassing analyst estimates of $0.08 per share and $147.5 million in revenue. This performance was bolstered by strong cash generation and a positive long-term outlook. Net income for the quarter rose to $30 million, or $0.23 per diluted share, compared to $0.19 a year earlier. Granite Ridge’s management noted that 2026 marks the final year of investment ahead of free cash flow, with production expected to increase in the latter half of the year. The company also adjusted its full-year lease operating expense guidance, anticipating cost improvements later in 2026. Additionally, oil and natural gas sales reached $149.3 million, with adjusted EBITDAX increasing by 5.6% to $79.6 million from the previous year. Cash flow from operations was reported at $55.6 million, or $69.5 million before accounting for working-capital changes.