Granite Oil (GXO) Given New C$1.30 Price Target at Cormark

Granite Oil (TSE:GXO) had its target price raised by stock analysts at Cormark from C$1.10 to C$1.30 in a research note issued on Thursday. Cormark’s price target would suggest a potential upside of 47.73% from the stock’s previous close.

Several other brokerages also recently issued reports on GXO. 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. Raymond James reissued a “market perform” rating and issued a C$1.50 price objective on shares of Granite Oil in a research note on Wednesday. Finally, National Bank Financial decreased their price objective on shares of Granite Oil from C$1.25 to C$1.10 and set a “sector perform” rating for the company in a research note on Monday, December 10th.

Shares of TSE GXO opened at C$0.88 on Thursday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 23.75. The stock has a market capitalization of $33.85 million and a price-to-earnings ratio of -3.79. Granite Oil has a 1 year low of C$0.43 and a 1 year high of C$3.41.

About Granite Oil

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.

Read More: What causes a recession?

Receive News & Ratings for Granite Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Oil and related companies with MarketBeat.com's FREE daily email newsletter.