Granite Oil Corp (TSE:GXO) had its target price decreased by research analysts at National Bank Financial from C$3.00 to C$2.75 in a research report issued on Monday. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price target indicates a potential downside of 16.92% from the stock’s current price.

A number of other equities analysts also recently commented on GXO. Royal Bank Of Canada decreased their target price on Granite Oil Corp from C$8.00 to C$6.00 in a research note on Thursday, July 20th. Raymond James Financial, Inc. downgraded Granite Oil Corp from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from C$8.75 to C$8.50 in a research note on Thursday, August 10th. Finally, TD Securities decreased their target price on Granite Oil Corp from C$5.50 to C$4.50 in a research note on Monday.

Shares of Granite Oil Corp (GXO) traded down C$0.22 during mid-day trading on Monday, reaching C$3.31. The company’s stock had a trading volume of 421,120 shares, compared to its average volume of 98,224. Granite Oil Corp has a 12 month low of C$3.11 and a 12 month high of C$6.28.

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In other Granite Oil Corp news, Director Bradley Blair Porter purchased 8,400 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were bought at an average price of C$3.69 per share, with a total value of C$30,996.00. In the last ninety days, insiders have bought 14,600 shares of company stock worth $53,295 and have sold 7,500 shares worth $28,140.

About Granite Oil Corp

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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