What’s Next for Granite Oil Corp After Today’s Huge Increase?

 What's Next for Granite Oil Corp After Today's Huge Increase?

The stock of Granite Oil Corp (TSE:GXO) is a huge mover today! About 281,823 shares traded hands or 60.43% up from the average. Granite Oil Corp (TSE:GXO) has declined 23.16% since April 15, 2016 and is downtrending. It has underperformed by 27.02% the S&P500.
The move comes after 7 months positive chart setup for the $205.23M company. It was reported on Nov, 21 by Barchart.com. We have $13.71 PT which if reached, will make TSE:GXO worth $301.69 million more.

Granite Oil Corp (TSE:GXO) Ratings Coverage

Out of 4 analysts covering Granite Oil (TSE:GXO), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $10.50 is the highest target while $6.50 is the lowest. The $8.39 average target is 51.17% above today’s ($5.55) stock price. Granite Oil has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc.

More notable recent Granite Oil Corp (TSE:GXO) news were published by: Marketwired.com which released: “Granite Oil Corp. Announces 2016 Budget and Guidance Update” on June 16, 2016, also Marketwired.com with their article: “Granite Oil Corp. Announces Closing of $16.5 Million Bought Deal Financing” published on June 15, 2016, Marketwired.com published: “Granite Oil Corp. Announces $15 Million Bought Deal Financing” on May 26, 2016. More interesting news about Granite Oil Corp (TSE:GXO) were released by: Business.Financialpost.com and their article: “Granite Oil Corp. exceeding dividend hike expectations” published on November 05, 2015 as well as Seekingalpha.com‘s news article titled: “Granite Oil Corp. Appears To Be A Bargain” with publication date: May 31, 2016.

Granite Oil Corp., formerly DeeThree Exploration Ltd., is a Canada oil producer based in Calgary, Alberta with lands and activities located in southern Alberta. The company has a market cap of $205.23 million. The Firm is engaged in the exploration for and exploitation, development and production of oil and natural gas. It currently has negative earnings. The Company’s Alberta Bakken Properties are located in southern Alberta, approximately 70 kilometers south of Lethbridge.

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