Granite Oil (GXO) Stock Price Down 3%

Shares of Granite Oil Corp (TSE:GXO) fell 3% during trading on Thursday . The company traded as low as C$3.08 and last traded at C$3.18. 114,667 shares changed hands during trading, a decline of 16% from the average session volume of 136,419 shares. The stock had previously closed at C$3.28.

A number of research firms have commented on GXO. TD Securities decreased their target price on Granite Oil from C$5.50 to C$4.50 in a research report on Monday, November 13th. Royal Bank of Canada decreased their target price on Granite Oil from C$6.00 to C$5.00 and set an “outperform” rating on the stock in a research report on Monday, November 13th. Finally, National Bank Financial decreased their target price on Granite Oil from C$3.00 to C$2.75 and set a “sector perform” rating on the stock in a research report on Monday, November 13th.

The company has a market capitalization of $102.91, a PE ratio of -60.20 and a beta of -0.91.

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Granite Oil Company Profile

Granite Oil Corp. engages in the exploration, development, production, and exploitation of oil and natural gas in the Western Canada Sedimentary Basin in Canada. It owns and operates the Alberta Bakken oil pool in southern Alberta. The company was formerly known as DeeThree Exploration Ltd. and changed its name to Granite Oil Corp.

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