Lucero Energy (CVE:LOU) Cut to Tender at Haywood Securities

Haywood Securities cut shares of Lucero Energy (CVE:LOU) from a buy rating to a tender rating in a research report report published on Wednesday,BayStreet.CA reports. Haywood Securities currently has C$0.49 price target on the stock, down from their prior price target of C$0.80.

A number of other research analysts have also issued reports on the company. National Bankshares reduced their price target on Lucero Energy from C$0.90 to C$0.75 in a research report on Friday, September 27th. Canaccord Genuity Group lowered shares of Lucero Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from C$0.80 to C$0.45 in a research report on Tuesday. CIBC cut shares of Lucero Energy from a “neutral” rating to a “tender” rating and lowered their target price for the company from C$0.65 to C$0.47 in a research note on Tuesday. Cormark raised shares of Lucero Energy to a “moderate buy” rating in a research note on Monday, September 23rd. Finally, BMO Capital Markets lowered 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 Stock Performance

LOU stock opened at C$0.42 on Wednesday. The firm has a market cap of C$264.49 million, a PE ratio of 5.19 and a beta of 1.72. The business has a 50-day moving average price of C$0.43. Lucero Energy has a fifty-two week low of C$0.40 and a fifty-two week high of C$0.70.

Lucero Energy (CVE:LOU) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$0.01 EPS for the quarter. The company had revenue of C$39.94 million for the quarter. Lucero Energy had a net margin of 30.07% and a return on equity of 9.56%. On average, analysts expect 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.