Granite Oil (TSE:GXO) Price Target Lowered to C$0.60 at National Bank Financial

Granite Oil (TSE:GXO) had its price objective trimmed by National Bank Financial from C$0.75 to C$0.60 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock. National Bank Financial also issued estimates for Granite Oil’s FY2019 earnings at $0.05 EPS.

Shares of Granite Oil stock traded down C$0.01 on Friday, reaching C$0.47. 2,133 shares of the company’s stock were exchanged, compared to its average volume of 39,610. The company has a market capitalization of $18.61 million and a P/E ratio of 3.47. Granite Oil has a 52 week low of C$0.43 and a 52 week high of C$1.13. The firm’s 50-day moving average is C$0.53 and its two-hundred day moving average is C$0.66. The company has a debt-to-equity ratio of 21.24, a quick ratio of 0.10 and a current ratio of 0.12.

Granite Oil (TSE:GXO) last posted its quarterly earnings results on Monday, August 12th. The company reported C$0.07 earnings per share (EPS) for the quarter. The business had revenue of C$11.51 million for the quarter. On average, analysts expect that Granite Oil will post 0.0909677 EPS for the current fiscal year.

Granite Oil Company Profile

Granite Oil Corp. engages in the exploration for, exploitation, development, and production of oil and natural gas in Canada. The company holds a 98% working interest in the Alberta Bakken properties covering 56,409 net undeveloped acres and 72,652 net developed acres with 68.0 net oil wells and 83.0 net gas wells located in southern Alberta.

Further Reading: Consumer Price Index (CPI)

Analyst Recommendations for Granite Oil (TSE:GXO)

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