Granite Oil (GXO) Reaches New 12-Month Low at $1.12

Granite Oil Corp (TSE:GXO) shares hit a new 52-week low during trading on Monday . The stock traded as low as C$1.12 and last traded at C$1.13, with a volume of 83694 shares trading hands. The stock had previously closed at C$1.13.

Several research analysts recently commented on the company. Royal Bank of Canada cut Granite Oil from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$5.00 to C$3.00 in a research report on Monday, August 13th. TD Securities cut Granite Oil from a “buy” rating to a “speculative buy” rating and reduced their price target for the company from C$3.50 to C$3.00 in a research report on Wednesday, August 15th. Finally, Raymond James reduced their price target on Granite Oil from C$7.00 to C$4.50 and set an “outperform” rating for the company in a research report on Tuesday, August 14th.

Granite Oil (TSE:GXO) last released its quarterly earnings data on Friday, August 10th. The company reported C($0.01) earnings per share (EPS) for the quarter. The firm had revenue of C$14.09 million during the quarter.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 15th will be given a $0.023 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 24.21%.

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Granite Oil Company Profile (TSE:GXO)

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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