Lucero Energy (CVE:LOU) Cut to “Hold” at Canaccord Genuity Group

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

Several other equities research analysts have also commented on the company. Cormark upgraded Lucero Energy to a “moderate buy” rating in a research note on Monday, September 23rd. CIBC cut shares of Lucero Energy from a “neutral” rating to a “tender” rating and reduced their price target for the stock from C$0.65 to C$0.47 in a research report on Tuesday. Canaccord Genuity Group cut shares of Lucero Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$0.80 to C$0.45 in a report on Tuesday. Haywood Securities downgraded Lucero Energy from a “buy” rating to a “tender” rating and cut their price target for the stock from C$0.80 to C$0.49 in a report on Wednesday. Finally, BMO Capital Markets decreased their target price on shares of Lucero Energy from C$0.75 to C$0.60 in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Lucero Energy has an average rating of “Hold” and an average price target of C$0.55.

Lucero Energy Stock Performance

Shares of LOU stock opened at C$0.39 on Tuesday. The firm has a market cap of C$248.56 million, a PE ratio of 4.88 and a beta of 1.72. The firm’s 50-day moving average price is C$0.43. Lucero Energy has a twelve month low of C$0.39 and a twelve month high of C$0.70.

Lucero Energy (CVE:LOU) last posted its 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 firm had revenue of C$39.94 million during the quarter. On average, analysts expect that Lucero Energy will post 0.0602883 EPS for the current fiscal year.

Lucero Energy Company Profile

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.