Granite Oil Corp (TSE:GXO) had its target price trimmed by Raymond James Financial, Inc. from C$8.75 to C$8.50 in a report released on Thursday, reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on GXO. Royal Bank Of Canada dropped their price objective on shares of Granite Oil Corp from C$8.00 to C$6.00 in a research note on Thursday, July 20th. National Bank Financial cut shares of Granite Oil Corp from an outperform rating to a sector perform rating and dropped their price objective for the company from C$6.00 to C$4.50 in a research note on Thursday, August 10th.

Shares of Granite Oil Corp (GXO) opened at 3.70 on Thursday. Granite Oil Corp has a 1-year low of $3.42 and a 1-year high of $6.99. The stock has a market capitalization of $126.42 million and a price-to-earnings ratio of 52.86. The stock has a 50 day moving average price of $4.47 and a 200 day moving average price of $5.10.

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The firm also recently disclosed a monthly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.42 annualized dividend and a yield of 11.35%.

In other news, Director Bradley Blair Porter bought 8,400 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of C$3.69 per share, for a total transaction of C$30,996.00. Also, insider Henry Peter Hamm bought 6,700 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was purchased at an average price of C$4.45 per share, for a total transaction of C$29,815.00. Insiders acquired a total of 29,100 shares of company stock worth $113,889 over the last quarter.

Granite Oil Corp Company Profile

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.

Stock Target Prices

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