In a new note to investors today, an analyst has provided a rating update for Granite Oil (GXO). Analyst Kurt Molnar from Raymond James rated Granite Oil (GXO) a Hold, setting a C$1.30 price target.
According to TipRanks.com, Molnar ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -20.9% and a 24.2% success rate. Molnar covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Birchcliff Energy Ltd, and NuVista Energy Ltd.
Granite Oil has an analyst consensus of Hold, with a price target consensus of C$1.15.
Based on Granite Oil’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$3.83 million. In comparison, last year the company had a GAAP net loss of C$4.9 million.
Granite Oil Corp. engages in the exploration, exploitation, development, and production of oil and natural gas. It focuses on the operation of Ferguson Upper Bakken property. The company was founded on November 22, 2007 and is headquartered in Calgary, Canada.
The company’s shares closed on Monday at C$0.77, close to its 52-week low of C$0.43.
