Granite Oil Corp (TSE:GXO) had its price objective reduced by investment analysts at RBC Capital Markets from C$10.00 to C$9.00 in a research report issued on Thursday. RBC Capital Markets’ price target would suggest a potential upside of 54.91% from the stock’s previous close.

Several other equities analysts have also issued reports on GXO. National Bank Financial lowered their price target on Granite Oil Corp from C$10.50 to C$9.50 and set an “outperform” rating on the stock in a research note on Wednesday, June 15th. Raymond James Financial Inc. boosted their price target on Granite Oil Corp from C$10.00 to C$10.50 in a research note on Friday, June 17th. Royal Bank Of Canada restated an “outperform” rating and set a C$10.00 price target on shares of Granite Oil Corp in a research note on Thursday, June 16th. Finally, TD Securities restated a “buy” rating and set a C$8.50 price target on shares of Granite Oil Corp in a research note on Monday, June 20th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Granite Oil Corp currently has a consensus rating of “Buy” and an average target price of C$9.54.

Analyst Recommendations for Granite Oil Corp (TSE:GXO)

Shares of Granite Oil Corp (TSE:GXO) traded up 1.04% during midday trading on Thursday, reaching $5.81. The company’s stock had a trading volume of 111,138 shares. The stock’s 50-day moving average is $6.12 and its 200 day moving average is $6.93. The stock’s market capitalization is $195.19 million. Granite Oil Corp has a 12 month low of $5.21 and a 12 month high of $9.39.

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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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