Granite Oil Corp (TSE:GXO) had its target price lowered by stock analysts at National Bank Financial from C$9.50 to C$8.50 in a research report issued to clients and investors on Thursday. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 39.80% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. 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. Royal Bank Of Canada reaffirmed an “outperform” rating and set a C$10.00 price objective on shares of Granite Oil Corp in a research report on Thursday, June 16th. Finally, Raymond James Financial Inc. upped their price objective on Granite Oil Corp from C$10.00 to C$10.50 in a research report on Friday, June 17th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of C$9.38.

Shares of Granite Oil Corp (TSE:GXO) traded up 0.82% on Thursday, reaching $6.13. The company’s stock had a trading volume of 624,081 shares. Granite Oil Corp has a 1-year low of $5.93 and a 1-year high of $9.39. The company’s 50 day moving average is $6.65 and its 200-day moving average is $7.07. The firm’s market cap is $205.94 million.

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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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