Lucero Energy (CVE:LOU) Stock Rating Lowered by CIBC

Lucero Energy (CVE:LOU) was downgraded by research analysts at CIBC from a “neutral” rating to a “tender” rating in a report issued on Tuesday,BayStreet.CA reports. They presently have a C$0.47 price target on the stock, down from their previous price target of C$0.65. CIBC’s target price would indicate a potential upside of 13.25% from the stock’s current price.

A number of other brokerages have also recently weighed in on LOU. BMO Capital Markets dropped their price objective on shares of Lucero Energy from C$0.75 to C$0.60 in a research note on Friday, December 13th. National Bankshares dropped their price target on Lucero Energy from C$0.90 to C$0.75 in a research report on Friday, September 27th. Finally, Cormark upgraded Lucero Energy to a “moderate buy” rating in a research report on Monday, September 23rd.

Lucero Energy Price Performance

Shares of CVE LOU opened at C$0.42 on Tuesday. The company has a 50-day moving average of C$0.43. Lucero Energy has a 52 week low of C$0.40 and a 52 week high of C$0.70. The firm has a market capitalization of C$264.49 million, a PE ratio of 5.19 and a beta of 1.72.

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