Granite Oil Corp to Post FY2017 Earnings of $0.18 Per Share, Cormark Forecasts (GXO)
Granite Oil Corp (TSE:GXO) – Equities research analysts at Cormark reduced their FY2017 earnings estimates for shares of Granite Oil Corp in a research report issued on Friday. Cormark analyst G. Ursu now anticipates that the firm will post earnings of $0.18 per share for the year, down from their previous forecast of $0.19.
Other equities analysts have also issued research reports about the company. National Bank Financial raised their price target on Granite Oil Corp from C$9.50 to C$10.50 in a research note on Wednesday, August 3rd. Raymond James Financial Inc. raised their price objective on Granite Oil Corp from C$10.00 to C$10.50 in a research report on Friday, June 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a C$10.00 price objective on shares of Granite Oil Corp in a research report on Thursday, June 16th. Finally, TD Securities reaffirmed a “buy” rating and set a C$8.50 price objective on shares of Granite Oil Corp in a research report on Monday, June 20th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$9.63.
Granite Oil Corp (TSE:GXO) traded up 0.28% during midday trading on Monday, hitting $5.43. 56,777 shares of the stock traded hands. The stock’s market cap is $182.42 million. The company has a 50-day moving average of $6.50 and a 200-day moving average of $7.02. Granite Oil Corp has a 12 month low of $5.41 and a 12 month high of $9.39.
Granite Oil Corp Company Profile
Granite Oil Corp., formerly DeeThree Exploration Ltd., 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, approximately 70 kilometers south of Lethbridge.
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