Lucero Energy (CVE:LOU) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Lucero Energy (CVE:LOU) from a buy rating to a hold rating in a research note published on Tuesday,BayStreet.CA reports. They currently have C$0.45 target price on the stock, down from their previous target price of C$0.80.

Several other research firms also recently commented on LOU. CIBC downgraded shares of Lucero Energy from a “neutral” rating to a “tender” rating and dropped their price objective for the company from C$0.65 to C$0.47 in a report on Tuesday. BMO Capital Markets decreased their price target on Lucero Energy from C$0.75 to C$0.60 in a report on Friday, December 13th. Cormark raised shares of Lucero Energy to a “moderate buy” rating in a report on Monday, September 23rd. Finally, National Bankshares lowered their price target on shares of Lucero Energy from C$0.90 to C$0.75 in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Lucero Energy currently has a consensus rating of “Hold” and a consensus price target of C$0.55.

Lucero Energy Stock Performance

Shares of LOU stock opened at C$0.39 on Tuesday. Lucero Energy has a 12-month low of C$0.39 and a 12-month high of C$0.70. The business’s fifty day simple moving average is C$0.43. The firm has a market capitalization of C$248.56 million, a P/E ratio of 4.88 and a beta of 1.72.

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