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

Lucero Energy (CVE:LOU - Get Free Report) was downgraded by research analysts at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a report issued on Tuesday,BayStreet.CA reports. They currently have a C$0.45 price objective on the stock, down from their prior price objective of C$0.80. Canaccord Genuity Group's price objective would indicate a potential upside of 5.88% from the company's previous close.

A number of other equities research analysts have also recently commented on LOU. CIBC cut shares of Lucero Energy from a "neutral" rating to a "tender" rating and lowered their price objective for the company from C$0.65 to C$0.47 in a research note on Tuesday. BMO Capital Markets dropped their price target on Lucero Energy from C$0.75 to C$0.60 in a research report on Friday. Cormark upgraded Lucero Energy to a "moderate buy" rating in a research report on Monday, September 23rd. Finally, National Bankshares cut their target price on shares of Lucero Energy from C$0.90 to C$0.75 in a research note on Friday, September 27th.

Lucero Energy Stock Performance

LOU stock traded up C$0.01 on Tuesday, reaching C$0.43. 8,505,558 shares of the company's stock were exchanged, compared to its average volume of 269,227. The company has a fifty day moving average of C$0.43. The company 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 has a twelve month low of C$0.40 and a twelve month high of C$0.70.

Lucero Energy (CVE:LOU - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported C$0.01 earnings per share (EPS) for the quarter. The company 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, equities research analysts forecast 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.