Granite Oil Corp (TSE:GXO) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as C$2.03 and last traded at C$2.15, with a volume of 157494 shares changing hands. The stock had previously closed at C$2.16.
Several research firms have commented on GXO. TD Securities cut their price objective on Granite Oil from C$5.50 to C$4.50 in a research report on Monday, November 13th. National Bank Financial cut their price objective on 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. Finally, Royal Bank of Canada cut their price objective on 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.
The firm has a market cap of $74.54, a PE ratio of -41.60 and a beta of -1.17.
The firm also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.023 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 13.27%. The ex-dividend date of this dividend is Tuesday, January 30th. Granite Oil’s payout ratio is -700.00%.
Granite Oil 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.
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