Lucero Energy (CVE:LOU) Stock Rating Lowered by Canaccord Genuity Group

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

Several other equities research analysts have also issued reports on LOU. Cormark raised shares of Lucero Energy to a “moderate buy” rating in a research note on Monday, September 23rd. National Bankshares decreased their price objective on shares of Lucero Energy from C$0.90 to C$0.75 in a report on Friday, September 27th. BMO Capital Markets cut their price objective on Lucero Energy from C$0.75 to C$0.60 in a research report on Friday, December 13th. Haywood Securities lowered shares of Lucero Energy from a “buy” rating to a “tender” rating and dropped their target price for the stock from C$0.80 to C$0.49 in a research report on Wednesday. Finally, Canaccord Genuity Group lowered shares of Lucero Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from C$0.80 to C$0.45 in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$0.55.

Lucero Energy Price Performance

Shares of LOU stock traded down C$0.02 during trading on Tuesday, hitting C$0.40. 142,426 shares of the company were exchanged, compared to its average volume of 274,715. The company has a market capitalization of C$251.75 million, a price-to-earnings ratio of 4.94 and a beta of 1.72. The business’s 50-day moving average is C$0.43. Lucero Energy has a twelve month low of C$0.40 and a twelve month high of C$0.70.

Lucero Energy (CVE:LOU) last released its quarterly earnings data 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 firm had revenue of C$39.94 million during the quarter. On average, equities analysts predict that Lucero Energy will post 0.0602883 earnings per share for the current year.

About Lucero Energy

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.