Granite Oil Corp (TSE:GXO) had its price objective decreased by equities researchers at RBC Capital Markets from C$10.00 to C$9.00 in a research report issued on Thursday. RBC Capital Markets’ target price indicates a potential upside of 55.17% from the stock’s previous close.
Several other research firms have also issued reports on GXO. TD Securities raised their price objective on Granite Oil Corp from C$9.50 to C$10.00 and gave the company a “buy” rating in a research note on Friday, September 23rd. National Bank Financial raised their price objective on Granite Oil Corp from C$9.50 to C$10.50 in a research note on Wednesday, August 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a C$10.00 price objective on shares of Granite Oil Corp in a research note on Thursday, June 16th. Finally, Raymond James Financial Inc. raised their price objective on Granite Oil Corp from C$10.00 to C$10.50 in a research note on Friday, June 17th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of C$9.54.
Granite Oil Corp (TSE:GXO) opened at 5.80 on Thursday. The stock’s 50 day moving average price is $6.08 and its 200 day moving average price is $6.91. Granite Oil Corp has a 1-year low of $5.21 and a 1-year high of $9.39. The stock’s market capitalization is $194.85 million.
Granite Oil Corp Company Profile
Granite Oil Corp., formerly DeeThree Exploration Ltd., is a Canada-based oil producer based in Calgary, Alberta with lands and operations located in southern Alberta. The Company is engaged in the exploration for and exploitation, development and production of oil and natural gas. Its Alberta Bakken Properties are located in southern Alberta, approximately 70 kilometers south of Lethbridge.
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