Research Analysts Set Expectations for Granite Oil Corp’s FY2017 Earnings (GXO)

Granite Oil Corp (TSE:GXO) – Equities researchers at Cormark dropped their FY2017 EPS estimates for shares of Granite Oil Corp in a research note issued on Tuesday. Cormark analyst G. Ursu now forecasts that the company will post earnings per share of ($0.23) for the year, down from their prior estimate of $0.20. Cormark also issued estimates for Granite Oil Corp’s Q4 2017 earnings at ($0.03) EPS, Q2 2018 earnings at $0.00 EPS and FY2018 earnings at $0.19 EPS.

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Several other equities analysts have also recently issued reports on GXO. Raymond James Financial, Inc. reduced their target price on Granite Oil Corp from C$8.75 to C$8.50 and set an “outperform” rating on the stock in a research note on Thursday, August 17th. National Bank Financial reduced their target price on Granite Oil Corp from C$6.00 to C$4.50 and set a “sector perform” rating on the stock in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada reduced their target price on Granite Oil Corp from C$8.00 to C$6.00 in a research note on Thursday, July 20th.

Shares of Granite Oil Corp (TSE GXO) opened at 3.40 on Thursday. The stock’s 50 day moving average is $3.57 and its 200 day moving average is $4.48. The firm has a market cap of $116.17 million and a P/E ratio of 48.57. Granite Oil Corp has a 12 month low of $3.11 and a 12 month high of $6.28.

In other Granite Oil Corp news, Director Bradley Blair Porter bought 8,400 shares of Granite Oil Corp stock in a transaction dated Friday, August 18th. The shares were purchased at an average cost of C$3.69 per share, with a total value of C$30,996.00. Over the last three months, insiders have bought 19,600 shares of company stock worth $72,605 and have sold 7,500 shares worth $28,140.

About Granite Oil Corp

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.

Earnings History and Estimates for Granite Oil Corp (TSE:GXO)

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