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

Canaccord Genuity Group downgraded shares of Lucero Energy (CVE:LOU) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning,BayStreet.CA reports. They currently have C$0.45 target price on the stock, down from their prior target price of C$0.80.

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

Lucero Energy Price Performance

Shares of LOU opened at C$0.43 on Tuesday. The company has a 50 day simple moving average of C$0.43. Lucero Energy has a 52-week low of C$0.40 and a 52-week high of C$0.70. The firm has a market cap of C$270.87 million, a price-to-earnings ratio of 5.31 and a beta of 1.72.

Lucero Energy (CVE:LOU) last issued 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. As a group, research analysts anticipate 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.