Granite Oil Corp (GXO) Price Target Lowered to C$4.50 at National Bank Financial
Granite Oil Corp (TSE:GXO) had its price target reduced by investment analysts at National Bank Financial from C$6.00 to C$4.50 in a research report issued on Thursday, StockTargetPrices.com reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s target price points to a potential upside of 20.97% from the company’s previous close.
GXO has been the topic of several other reports. Royal Bank Of Canada decreased their price objective on shares of Granite Oil Corp from C$8.00 to C$6.00 in a report on Thursday, July 20th. Raymond James Financial, Inc. lowered shares of Granite Oil Corp from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from C$8.75 to C$8.50 in a report on Thursday, August 10th.
Shares of Granite Oil Corp (TSE GXO) traded up 1.09% during trading on Thursday, hitting $3.72. 53,162 shares of the stock were exchanged. The company has a market cap of $127.10 million and a price-to-earnings ratio of 53.14. The stock’s 50 day moving average price is $4.52 and its 200-day moving average price is $5.12. Granite Oil Corp has a one year low of $3.42 and a one year high of $7.12.
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In other Granite Oil Corp news, insider Henry Peter Hamm bought 6,700 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were purchased at an average cost of C$4.45 per share, with a total value of C$29,815.00. Over the last ninety days, insiders have purchased 20,700 shares of company stock worth $82,893.
Granite Oil Corp Company Profile
Granite Oil Corp. engages in the exploration, development, production, and exploitation of oil and natural gas in the Western Canada Sedimentary Basin in Canada. It owns and operates the Alberta Bakken oil pool in southern Alberta. The company was formerly known as DeeThree Exploration Ltd. and changed its name to Granite Oil Corp.
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