Is Granite Ridge Resources, Inc. overvalued or undervalued?

As of 9 November 2023, Granite Ridge Resources, Inc. has moved from an attractive to a very attractive valuation grade. The company is currently considered undervalued. Key ratios include a P/E ratio of 13, an EV to EBITDA of 3.25, and a Price to Book Value of 1.21, indicating a favorable valuation compared to its peers.
In comparison, Core Laboratories, Inc. is categorized as very expensive with a P/E ratio of 23.39 and an EV to EBITDA of 11.68, highlighting Granite Ridge's relative attractiveness. Additionally, NextDecade Corp. does not qualify for comparison due to negative metrics. Notably, Granite Ridge has outperformed the S&P 500 over the past week and month, with returns of 6.5% and 15.34%, respectively, reinforcing its undervalued status.