Granite Oil (TSE:GXO) Shares Down 4.5%

Granite Oil Corp (TSE:GXO) was down 4.5% during trading on Monday . The stock traded as low as C$0.64 and last traded at C$0.64, approximately 42,233 shares traded hands during trading. A decline of 33% from the average daily volume of 62,577 shares. The stock had previously closed at C$0.67.

Separately, National Bank Financial decreased their target price on Granite Oil from C$0.75 to C$0.60 and set a “sector perform” rating for the company in a research note on Friday, November 8th.

The firm has a 50 day moving average of C$0.55 and a 200 day moving average of C$0.57. The firm has a market cap of $24.82 million and a price-to-earnings ratio of 4.75. The company has a quick ratio of 0.10, a current ratio of 0.12 and a debt-to-equity ratio of 21.24.

Granite Oil (TSE:GXO) last released its earnings results on Wednesday, November 6th. The company reported C$0.02 EPS for the quarter. The business had revenue of C$9.54 million for the quarter. Equities analysts expect that Granite Oil Corp will post 0.09 EPS for the current year.

About Granite Oil (TSE:GXO)

Granite Oil Corp. engages in the exploration for, exploitation, development, and production of oil and natural gas in Canada. The company holds a 98% working interest in the Alberta Bakken properties covering 56,409 net undeveloped acres and 72,652 net developed acres with 68.0 net oil wells and 83.0 net gas wells located in southern Alberta.

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