Bullboard - Stock Discussion Forum Granite Oil Corp GXOCF

Energy

Granite Oil Corp is a Canada-based oil producer based in Calgary, Alberta with lands and operations located in southern Alberta. The company is engaged in the exploration for and exploitation, development, and production of oil and natural gas. Its Alberta Bakken Properties are located in southern Alberta at the south of Lethbridge.

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Granite Oil Corp > One of the top 3 O & G Penny Stocks of 2018

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Post by oceaneleven on Sep 30, 2018 10:38am

One of the top 3 O & G Penny Stocks of 2018

3. Granite Oil Corp. (GXOCF)

Granite focuses on the Western Canada Sedimentary Basin. The company declared a dividend of $0.023 per share in July 2018 and again in August 2018. Management has reduced costs significantly to make up for declining oil prices, and debt is relatively low. The fact that the company has not eliminated its dividend bodes well, and it currently offers a dividend yield of 13.29%. Granite's stock price has fallen nearly 49% over the last year to around $1.53 per share. This is one to watch to see if it turns around.

Average Volume: 20,310
Market Cap: $54.38 million
P/E Ratio (TTM): N/A
EPS (TTM): -$0.25

The Bottom Line

There is a saying among investors that "a rising tide lifts all boats." But the rising tide of oil prices won't lift a leaky boat. Penny oil stocks on this list have seen better days. They are not startups; they are has-beens. In other words, these plays are for those who see significant odds that the companies can turn around. To be sure, the drop in oil prices was not the fault of any of these companies, but that doesn't change the fact that they will have to make some quick moves to reverse their financial fortunes.

https://www.investopedia.com/investing/oil-gas-penny-stocks/

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