10 Small–Cap Stocks Insiders Are Buying Recently

8. Granite Ridge Resources, Inc. (NYSE:GRNT)

Number of Insiders Buying: 6

Market Capitalization: $799.5 million

In November and December, six insiders, including President and CEO, CFO, and directors, acquired about $741,000 worth of Granite Ridge Resources shares at an average price of $6.35 per share. The stock is currently trading at $6.20 per share, having declined 4.02% year-to-date.

The average rating for GRNT stock from three analysts is “Buy,” with a 12-month stock price target of $7.6, according to data from StockAnalysis. One Wall Street analyst forecasts a higher price of $8.80.

Granite Ridge Resources has a diverse portfolio of wells and top-tier acreage across the Permian basin and four other prolific unconventional basins across the United States. This is a hybrid oil and gas company and private equity firm, touting the benefits of both organization types. A non-operated oil and gas company means that it does not drill or operate its own wells. Instead, it focuses on increasing asset diversity to reduce risk.

Over the last 12 months, its shares gained 16.32%.

In its latest financial report for the third quarter of 2024, the company reported consolidated oil and gas sales of $94.08 million, compared to $108.40 million in the comparable quarter of 2023. This is a dividend-paying stock, and in the third quarter it declared a regular quarterly dividend of $0.11 per share.