Cormark Comments on Granite Oil Corp’s Q3 2017 Earnings (GXO)
Granite Oil Corp (TSE:GXO) – Investment analysts at Cormark decreased their Q3 2017 earnings per share (EPS) estimates for Granite Oil Corp in a report issued on Tuesday. Cormark analyst G. Ursu now anticipates that the company will earn $0.03 per share for the quarter, down from their prior forecast of $0.06. Cormark also issued estimates for Granite Oil Corp’s Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.07 EPS and FY2019 earnings at $0.23 EPS.
Several other equities research analysts have also commented on the company. Royal Bank Of Canada lowered their price objective on Granite Oil Corp from C$8.00 to C$6.00 in a research report on Thursday, July 20th. National Bank Financial lowered Granite Oil Corp from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$6.00 to C$4.50 in a research report on Thursday, August 10th. Finally, Raymond James Financial, Inc. lowered Granite Oil Corp from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from C$8.75 to C$8.50 in a research report on Thursday, August 10th.
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Shares of Granite Oil Corp (TSE GXO) opened at 3.37 on Wednesday. The company has a market cap of $115.15 million and a PE ratio of 48.14. Granite Oil Corp has a 1-year low of $3.11 and a 1-year high of $6.28. The firm’s 50-day moving average is $3.60 and its 200-day moving average is $4.54.
In related news, Director Bradley Blair Porter acquired 8,400 shares of the stock in a transaction on Friday, August 18th. The shares were acquired at an average price of C$3.69 per share, for a total transaction of C$30,996.00. In the last 90 days, insiders acquired 19,600 shares of company stock worth $72,605 and sold 7,500 shares worth $28,140.
Granite Oil Corp 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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