Granite Oil Corp (TSE:GXO) had its price objective decreased by analysts at National Bank Financial from C$9.50 to C$8.50 in a research note issued on Thursday, reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 39.80% from the stock’s current price.

A number of other research firms have also recently commented on GXO. TD Securities restated a “buy” rating and issued a C$8.50 price target on shares of Granite Oil Corp in a report on Monday, June 20th. Raymond James Financial Inc. upped their price target on shares of Granite Oil Corp from C$10.00 to C$10.50 in a report on Friday, June 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a C$10.00 target price on shares of Granite Oil Corp in a report on Thursday, June 16th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of C$9.38.

Granite Oil Corp (TSE:GXO) traded up 0.33% on Thursday, hitting $6.10. 636,932 shares of the stock traded hands. The company’s market capitalization is $204.93 million. The firm has a 50-day moving average price of $6.65 and a 200-day moving average price of $7.07. Granite Oil Corp has a 12 month low of $5.93 and a 12 month high of $9.39.

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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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