Granite Oil Corp (GXO) Price Target Cut to C$7.50 by Analysts at TD Securities

Granite Oil Corp (GXO) Price Target Cut to C$7.50 by Analysts at TD Securities

Granite Oil Corp (TSE:GXO) had its price objective reduced by TD Securities from C$8.00 to C$7.50 in a research note issued to investors on Thursday morning. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on GXO. RBC Capital Markets decreased their price target on shares of Granite Oil Corp from C$10.00 to C$9.00 in a research report on Thursday, October 13th. Royal Bank Of Canada decreased their price target on shares of Granite Oil Corp from C$9.00 to C$8.00 and set an outperform rating for the company in a research report on Thursday, November 10th. National Bank Financial decreased their price target on shares of Granite Oil Corp from C$8.50 to C$6.50 and set an outperform rating for the company in a research report on Thursday, November 10th. Raymond James Financial, Inc. reaffirmed a strong-buy rating and set a C$10.00 price target on shares of Granite Oil Corp in a research report on Wednesday. Finally, CIBC decreased their price target on shares of Granite Oil Corp from C$8.50 to C$6.50 in a research report on Wednesday, October 19th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of C$8.04.

Granite Oil Corp (TSE:GXO) traded down 1.91% during mid-day trading on Thursday, hitting $5.40. The stock had a trading volume of 342,121 shares. The stock’s market cap is $181.80 million. The company has a 50 day moving average price of $5.74 and a 200 day moving average price of $6.05. Granite Oil Corp has a one year low of $4.31 and a one year high of $8.43.

In other news, Director Gmt Capital Corp sold 22,500 shares of the stock in a transaction dated Friday, January 13th. The shares were sold at an average price of C$4.40, for a total transaction of C$99,000.00.

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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