Granite Oil Corp (GXO) Price Target Cut to C$5.00 by Analysts at Royal Bank Of Canada

Granite Oil Corp (TSE:GXO) had its price objective cut by Royal Bank Of Canada from C$6.00 to C$5.00 in a report released on Monday morning. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. National Bank Financial cut Granite Oil Corp from an outperform rating to a sector perform rating and decreased their price objective for the company from C$6.00 to C$4.50 in a report on Thursday, August 10th. Raymond James Financial, Inc. cut Granite Oil Corp from a strong-buy rating to an outperform rating and decreased their price objective for the company from C$8.75 to C$8.50 in a report on Thursday, August 10th. Finally, TD Securities decreased their price objective on Granite Oil Corp from C$5.50 to C$4.50 in a report on Monday.

Shares of Granite Oil Corp (TSE:GXO) traded down C$0.16 during mid-day trading on Monday, hitting C$3.15. The stock had a trading volume of 213,332 shares, compared to its average volume of 98,752. Granite Oil Corp has a fifty-two week low of C$3.11 and a fifty-two week high of C$6.28.

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In other Granite Oil Corp news, Director Bradley Blair Porter purchased 8,400 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average price of C$3.69 per share, for a total transaction of C$30,996.00. In the last 90 days, insiders purchased 11,300 shares of company stock valued at $41,598 and 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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