Granite Oil Corp (TSE:GXO) shares hit a new 52-week low on Wednesday . The company traded as low as C$2.03 and last traded at C$2.15, with a volume of 157494 shares. The stock had previously closed at C$2.16.
GXO has been the topic of a number of recent analyst reports. TD Securities dropped their price objective on Granite Oil from C$5.50 to C$4.50 in a 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 boosted their target price on Granite Oil from C$2.75 to C$3.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 9th.
The company has a market capitalization of $68.72, a PE ratio of -40.20 and a beta of -1.17.
The company also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 15th will be given a dividend of $0.023 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.28 dividend on an annualized basis and a yield of 13.73%. Granite Oil’s payout ratio is -700.00%.
About Granite Oil
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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