Granite Oil Corp (GXO) PT Lowered to C$4.50

Granite Oil Corp (TSE:GXO) had its target price cut by analysts at TD Securities from C$5.50 to C$4.50 in a report issued on Monday. TD Securities’ price target would suggest a potential upside of 35.95% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada lowered their target price on Granite Oil Corp from C$8.00 to C$6.00 in a research note on Thursday, July 20th. Raymond James Financial, Inc. cut Granite Oil Corp from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from C$8.75 to C$8.50 in a research report on Thursday, August 10th. Finally, National Bank Financial lowered their price objective on Granite Oil Corp from C$6.00 to C$4.50 and set a “sector perform” rating for the company in a research report on Thursday, August 17th.

Granite Oil Corp (TSE:GXO) traded down C$0.22 on Monday, reaching C$3.31. The company had a trading volume of 421,120 shares, compared to its average volume of 98,224. Granite Oil Corp has a 1 year low of C$3.11 and a 1 year high of C$6.28.

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In other Granite Oil Corp news, Director Bradley Blair Porter acquired 8,400 shares of the stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of C$3.69 per share, with a total value of C$30,996.00. Over the last ninety days, insiders have bought 14,600 shares of company stock valued at $53,295 and have sold 7,500 shares valued at $28,140.

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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