Granite Oil Corp (TSE:GXO) had its price objective lowered by equities research analysts at Royal Bank Of Canada from C$9.00 to C$8.00 in a research report issued on Thursday. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 76.99% from the company’s current price.

Several other brokerages also recently issued reports on GXO. TD Securities raised their price objective on shares of Granite Oil Corp from C$9.50 to C$10.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. National Bank Financial lifted their price target on shares of Granite Oil Corp from C$9.50 to C$10.50 in a research report on Wednesday, August 3rd. CIBC dropped their price target on shares of Granite Oil Corp from C$8.50 to C$6.50 in a research report on Wednesday, October 19th. Finally, RBC Capital Markets dropped their price target on shares of Granite Oil Corp from C$10.00 to C$9.00 in a research report on Thursday, October 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Granite Oil Corp presently has an average rating of “Buy” and an average target price of C$8.18.

Analyst Recommendations for Granite Oil Corp (TSE:GXO)

Shares of Granite Oil Corp (TSE:GXO) opened at 4.52 on Thursday. Granite Oil Corp has a 52-week low of $4.31 and a 52-week high of $9.26. The company’s 50-day moving average price is $5.46 and its 200-day moving average price is $6.73. The company’s market capitalization is $151.85 million.

About Granite Oil Corp

Granite Oil Corp., formerly DeeThree Exploration Ltd., is a Canada-based oil producer based in Calgary, Alberta with lands and operations located in southern Alberta. The Company is engaged in the exploration for and exploitation, development and production of oil and natural gas. Its Alberta Bakken Properties are located in southern Alberta, approximately 70 kilometers south of Lethbridge.

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