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 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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