Granite Oil Corp (TSE:GXO) – Analysts at National Bank Financial lowered their FY2020 earnings per share (EPS) estimates for shares of Granite Oil in a note issued to investors on Monday, August 12th. National Bank Financial analyst J. Hunt now anticipates that the company will earn $0.01 per share for the year, down from their previous estimate of $0.05. National Bank Financial has a “Sector Perform” rating and a $0.80 price target on the stock.
A number of other brokerages have also recently issued reports on GXO. Raymond James reaffirmed an “outperform” rating and issued a C$2.00 price objective on shares of Granite Oil in a research note on Friday, May 10th. Cormark raised shares of Granite Oil from a “market perform” rating to a “buy” rating and upped their price objective for the company from C$1.20 to C$1.65 in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Granite Oil currently has a consensus rating of “Hold” and a consensus price target of C$1.27.
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: What is meant by a buy rating?
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