Granite Oil’s (GXO) “Sector Perform” Rating Reaffirmed at National Bank Financial
Granite Oil (TSE:GXO)‘s stock had its “sector perform” rating reaffirmed by analysts at National Bank Financial in a report released on Wednesday. They presently have a C$1.25 price target on the stock. National Bank Financial’s price target suggests a potential upside of 23.76% from the stock’s previous close.
GXO has been the subject of several other research reports. TD Securities reduced their target price on shares of Granite Oil from C$2.50 to C$2.00 in a report on Tuesday. Raymond James cut their price objective on shares of Granite Oil from C$3.90 to C$3.00 and set an “outperform” rating for the company in a report on Thursday, November 1st. Finally, Royal Bank of Canada cut shares of Granite Oil from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$5.00 to C$3.00 in a report on Monday, August 13th.
Shares of Granite Oil stock opened at C$1.01 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 23.27. Granite Oil has a 1 year low of C$1.00 and a 1 year high of C$3.41.
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.
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