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.

Further Reading: Understanding each part of a balance sheet

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