Granite Oil Corp (TSE:GXO) – Equities research analysts at Cormark cut their Q3 2017 earnings per share estimates for Granite Oil Corp in a report released on Thursday. Cormark analyst G. Ursu now expects that the company will post earnings of $0.06 per share for the quarter, down from their prior estimate of $0.07. Cormark also issued estimates for Granite Oil Corp’s Q3 2018 earnings at $0.08 EPS, Q4 2018 earnings at $0.08 EPS and FY2019 earnings at $0.33 EPS.
GXO has been the subject of a number of other research reports. Royal Bank Of Canada cut their target price on shares of Granite Oil Corp from C$8.00 to C$6.00 in a research note on Thursday, July 20th. National Bank Financial cut shares of Granite Oil Corp from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$6.00 to C$4.50 in a research report on Thursday. Finally, Raymond James Financial, Inc. cut shares of Granite Oil Corp from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from C$8.75 to C$8.50 in a research report on Thursday.
Shares of Granite Oil Corp (TSE GXO) opened at 4.04 on Friday. The firm’s market capitalization is $136.20 million. Granite Oil Corp has a 52-week low of $4.02 and a 52-week high of $7.12. The company has a 50-day moving average price of $4.61 and a 200 day moving average price of $5.17.
In related news, insider Henry Peter Hamm acquired 6,700 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The stock was purchased at an average price of C$4.45 per share, for a total transaction of C$29,815.00. Insiders purchased a total of 11,000 shares of company stock valued at $47,444 in the last 90 days.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a $0.035 dividend. This represents a $0.42 annualized dividend and a yield of 10.40%. The ex-dividend date of this dividend is Thursday, July 27th.
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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