Granite Oil Corp (GXO) Price Target Cut to C$9.00 by Analysts at RBC Capital Markets
Granite Oil Corp (TSE:GXO) had its price objective dropped by equities research analysts at RBC Capital Markets from C$10.00 to C$9.00 in a research note issued to investors on Thursday. RBC Capital Markets’ price objective indicates a potential upside of 56.52% from the stock’s previous close.
Several other research firms have also recently commented on GXO. TD Securities increased their price target on shares of 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 increased their price target on shares of 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 shares of Granite Oil Corp from C$10.00 to C$10.50 in a research note on Friday, June 17th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$9.54.
Shares of Granite Oil Corp (TSE:GXO) traded up 0.87% during mid-day trading on Thursday, hitting $5.80. The stock had a trading volume of 87,431 shares. Granite Oil Corp has a 52-week low of $5.21 and a 52-week high of $9.39. The stock has a 50 day moving average price of $6.12 and a 200-day moving average price of $6.93. The company’s market cap is $194.85 million.
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About Granite Oil Corp
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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