Raymond James Reiterates Market Perform Rating for Granite Oil (GXO)

Granite Oil (TSE:GXO)‘s stock had its “market perform” rating restated by Raymond James in a report issued on Wednesday. They presently have a C$1.50 price target on the stock. Raymond James’ price objective would indicate a potential upside of 68.54% from the company’s current price.

GXO has been the subject of a number of other reports. TD Securities dropped their price target on shares of Granite Oil from C$2.50 to C$2.00 in a research report on Tuesday, November 13th. National Bank Financial reissued a “sector perform” rating and issued a C$1.25 price objective on shares of Granite Oil in a research note on Wednesday, November 14th. Royal Bank of Canada reissued a “neutral” rating and issued a C$1.00 price objective (down previously from C$1.50) on shares of Granite Oil in a research note on Monday, January 7th. Finally, Cormark lowered their price objective on shares of Granite Oil from C$2.50 to C$2.00 in a research note on Monday, December 10th.

Shares of GXO opened at C$0.89 on Wednesday. Granite Oil has a 1-year low of C$0.43 and a 1-year high of C$3.41. The stock has a market cap of $34.61 million and a price-to-earnings ratio of -3.84. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 23.75.

Granite Oil Company Profile

Granite Oil Corp. engages in the exploration for, exploitation, development, and production of oil and natural gas in Canada. The company holds 100% working interest in the Alberta Bakken properties covering 103,487 undeveloped acres and 72,734 net developed acres with 65.0 net oil wells and 89.0 net gas wells located in southern Alberta.

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