Lucero Energy (CVE:LOU) Lowered to “Hold” Rating by Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Lucero Energy (CVE:LOU) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other brokerages also recently weighed in on LOU. National Bankshares dropped their target price on Lucero Energy from C$0.90 to C$0.75 in a report on Friday, September 27th. Cormark upgraded shares of Lucero Energy to a “moderate buy” rating in a research note on Monday, September 23rd. BMO Capital Markets lowered their price target on Lucero Energy from C$0.75 to C$0.60 in a research report on Friday, December 13th. Canaccord Genuity Group cut shares of Lucero Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$0.80 to C$0.45 in a research note on Tuesday. Finally, CIBC cut Lucero Energy from a “neutral” rating to a “tender” rating and cut their price target for the company from C$0.65 to C$0.47 in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$0.55.

Lucero Energy Price Performance

CVE:LOU traded down C$0.02 during mid-day trading on Tuesday, hitting C$0.40. The stock had a trading volume of 69,426 shares, compared to its average volume of 274,604. Lucero Energy has a 52 week low of C$0.40 and a 52 week high of C$0.70. The stock has a market capitalization of C$251.75 million, a PE ratio of 4.94 and a beta of 1.72. The stock’s 50 day moving average is C$0.43.

Lucero Energy (CVE:LOU) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$0.01 EPS for the quarter. Lucero Energy had a net margin of 30.07% and a return on equity of 9.56%. The business had revenue of C$39.94 million for the quarter. Equities research analysts anticipate that Lucero Energy 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.