Granite Oil (TSE:GXO) had its price objective raised by Cormark from C$1.10 to C$1.30 in a research report sent to investors on Thursday.

Several other brokerages also recently commented on GXO. National Bank Financial reaffirmed a sector perform rating and set a C$1.25 target price on shares of Granite Oil in a report on Wednesday, November 14th. Raymond James reaffirmed a market perform rating and set a C$1.50 target price on shares of Granite Oil in a report on Wednesday. Finally, Royal Bank of Canada reaffirmed a neutral rating and set a C$1.00 target price (down previously from C$1.50) on shares of Granite Oil in a report on Monday, January 7th.

Shares of GXO stock opened at C$0.89 on Thursday. The stock has a market cap of $33.85 million and a P/E ratio of -3.84. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 23.75. Granite Oil has a 52 week low of C$0.43 and a 52 week 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.

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