Logan Energy (CVE:LGN) Cut to “Sector Perform” at Scotia

Logan Energy (CVE:LGN) was downgraded by analysts at Scotia from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, BayStreet reports. They currently have a C$1.60 target price on the stock. Scotia‘s target price suggests a potential upside of 3.23% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. National Bank Financial set a C$1.75 price objective on Logan Energy and gave the stock an “outperform” rating in a report on Wednesday, September 30th. ATB Cormark Capital Markets downgraded Logan Energy from an “outperform” rating to a “tender” rating and set a C$1.50 target price on the stock. in a research report on Tuesday. Finally, Royal Bank Of Canada set a C$1.50 target price on Logan Energy and gave the stock a “moderate buy” rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$1.47.

Logan Energy Stock Performance

LGN traded up C$0.01 on Tuesday, reaching C$1.55. The company had a trading volume of 2,148,712 shares, compared to its average volume of 829,618. Logan Energy has a fifty-two week low of C$0.74 and a fifty-two week high of C$1.59. The stock has a market cap of C$1.07 billion, a P/E ratio of 25.83 and a beta of -0.14. The company’s fifty day moving average is C$1.20 and its 200 day moving average is C$0.97.

Logan Energy Company Profile

Logan Energy Corp. engages in the exploration, development and production of crude oil and natural gas properties. The company holds interest in the Simonette and Pouce Coupe properties in northwest Alberta; and the Flatrock property in northeastern British Columbia. Logan Energy Corp. was incorporated in 2023 and is headquartered in Calgary, Canada.