Granite Oil Corp (TSE:GXO)’s share price hit a new 52-week low on Monday . The stock traded as low as C$2.87 and last traded at C$2.98, with a volume of 100072 shares trading hands. The stock had previously closed at C$2.97.

Several equities analysts recently weighed in on GXO shares. National Bank Financial dropped their price target on shares of Granite Oil from C$3.00 to C$2.75 and set a “sector perform” rating on the stock in a research report on Monday, November 13th. Royal Bank of Canada dropped their price target on shares of Granite Oil from C$6.00 to C$5.00 and set an “outperform” rating on the stock in a research report on Monday, November 13th. Finally, TD Securities dropped their price target on shares of Granite Oil from C$5.50 to C$4.50 in a research report on Monday, November 13th.

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About Granite Oil

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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