Granite Oil Corp (TSE:GXO) had its price objective cut by research analysts at CIBC from C$8.50 to C$6.50 in a research note issued to investors on Wednesday. CIBC’s target price would indicate a potential upside of 8.70% from the stock’s current price.
Other analysts have also recently issued reports about the company. National Bank Financial upped their target price on Granite Oil Corp from C$9.50 to C$10.50 in a report on Wednesday, August 3rd. Royal Bank Of Canada upped their target price on Granite Oil Corp from C$9.00 to C$10.00 in a report on Thursday, October 13th. RBC Capital Markets reduced their target price on Granite Oil Corp from C$10.00 to C$9.00 in a report on Thursday, October 13th. Finally, TD Securities upped their target price on Granite Oil Corp from C$9.50 to C$10.00 and gave the company a “buy” rating in a report on Friday, September 23rd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$9.04.
Granite Oil Corp (TSE:GXO) traded up 1.18% during mid-day trading on Wednesday, hitting $5.98. 111,285 shares of the stock were exchanged. The company’s market capitalization is $200.90 million. Granite Oil Corp has a 1-year low of $5.21 and a 1-year high of $9.39. The stock has a 50 day moving average price of $6.04 and a 200 day moving average price of $6.91.
Granite Oil Corp Company Profile
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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