Lucero Energy (CVE:LOU) Trading 1.1% Higher – Here’s Why

Lucero Energy Corp. (CVE:LOU)’s stock price traded up 1.1% during mid-day trading on Thursday . The company traded as high as C$0.45 and last traded at C$0.45. 88,500 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 205,040 shares. The stock had previously closed at C$0.45.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group lowered shares of Lucero Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Canaccord Genuity Group downgraded shares of Lucero Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$0.80 to C$0.45 in a report on Tuesday, December 17th. CIBC downgraded shares of Lucero Energy from a “neutral” rating to a “tender” rating and reduced their price objective for the stock from C$0.65 to C$0.47 in a report on Tuesday, December 17th. Haywood Securities downgraded shares of Lucero Energy from a “buy” rating to a “tender” rating and cut their price target for the company from C$0.80 to C$0.49 in a report on Wednesday, December 18th. Finally, BMO Capital Markets cut their price target on shares of Lucero Energy from C$0.75 to C$0.60 in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$0.55.

Lucero Energy Trading Down 1.1 %

The firm has a market cap of C$283.61 million, a P/E ratio of 5.56 and a beta of 1.72. The firm has a 50-day moving average of C$0.43.

Lucero Energy (CVE:LOU) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.01 earnings per share (EPS) for the quarter. The firm 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 anticipate that Lucero Energy Corp. 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.