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

Lucero Energy (CVE:LOU) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report issued on Tuesday,BayStreet.CA reports. They currently have a C$0.45 target price on the stock, down from their prior target price of C$0.80. Canaccord Genuity Group’s target price would suggest a potential upside of 8.43% from the stock’s previous close.

Several other research analysts have also recently weighed in on LOU. Cormark raised Lucero Energy to a “moderate buy” rating in a research note on Monday, September 23rd. CIBC lowered shares of Lucero Energy from a “neutral” rating to a “tender” rating and decreased their price target for the stock from C$0.65 to C$0.47 in a research report on Tuesday. National Bankshares dropped their price target on Lucero Energy from C$0.90 to C$0.75 in a research note on Friday, September 27th. Finally, BMO Capital Markets reduced their price objective on shares of Lucero Energy from C$0.75 to C$0.60 in a research note on Friday, December 13th.

Lucero Energy Price Performance

Shares of LOU stock opened at C$0.42 on Tuesday. The business has a 50 day simple moving average of C$0.43. The company has a market cap of C$264.49 million, a price-to-earnings ratio of 5.19 and a beta of 1.72. Lucero Energy has a 12-month low of C$0.40 and a 12-month high of C$0.70.

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