Lucero Energy (CVE:LOU) Downgraded to “Hold” Rating by Canaccord Genuity Group

Lucero Energy (CVE:LOU) was downgraded by Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. CIBC cut Lucero Energy from a “neutral” rating to a “tender” rating and dropped their price target for the company from C$0.65 to C$0.47 in a research note on Tuesday. Cormark upgraded shares of Lucero Energy to a “moderate buy” rating in a report on Monday, September 23rd. Canaccord Genuity Group downgraded Lucero Energy from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$0.80 to C$0.45 in a research report on Tuesday. National Bankshares lowered their price objective on Lucero Energy from C$0.90 to C$0.75 in a research report on Friday, September 27th. Finally, Haywood Securities downgraded shares of Lucero Energy from a “buy” rating to a “tender” rating and dropped their target price for the company from C$0.80 to C$0.49 in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$0.55.

Lucero Energy Trading Down 4.8 %

Shares of LOU traded down C$0.02 during mid-day trading on Tuesday, reaching C$0.40. The company’s stock had a trading volume of 142,426 shares, compared to its average volume of 274,715. The stock has a market cap of C$251.75 million, a PE ratio of 4.94 and a beta of 1.72. Lucero Energy has a 1-year low of C$0.40 and a 1-year high of C$0.70. The business’s 50-day moving average price is C$0.43.

Lucero Energy (CVE:LOU) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$0.01 earnings per share (EPS) for the quarter. The business had revenue of C$39.94 million during the quarter. Lucero Energy had a return on equity of 9.56% and a net margin of 30.07%. As a group, research analysts predict that Lucero Energy will post 0.0602883 EPS for the current fiscal year.

Lucero Energy Company Profile

Lucero Energy Corp., an independent oil company, engages in the acquisition, development, and production of oil-weighted assets in the Bakken and Three Forks formations in the Williston Basin area of North Dakota. The company was formerly known as PetroShale Inc and changed its name to Lucero Energy Corp.