Lucero Energy (CVE:LOU) Sets New 52-Week Low Following Analyst Downgrade

Lucero Energy Corp. (CVE:LOU)’s stock price hit a new 52-week low during mid-day trading on Monday after BMO Capital Markets lowered their price target on the stock from C$0.75 to C$0.60. The stock traded as low as C$0.40 and last traded at C$0.43, with a volume of 1861397 shares trading hands. The stock had previously closed at C$0.47.

A number of other equities research analysts have also issued reports on the stock. Cormark raised shares of Lucero Energy to a “moderate buy” rating in a report on Monday, September 23rd. National Bankshares dropped their price target on shares of Lucero Energy from C$0.90 to C$0.75 in a research note on Friday, September 27th.

Lucero Energy Price Performance

The company’s 50 day moving average is C$0.43. The company has a market capitalization of C$267.68 million, a price-to-earnings ratio of 5.25 and a beta of 1.72.

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