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

Lucero Energy (CVE:LOU - Get Free Report) was downgraded by equities research analysts at Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages have also commented on LOU. BMO Capital Markets cut their price objective on Lucero Energy from C$0.75 to C$0.60 in a report on Friday, December 13th. Haywood Securities cut shares of 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 research note on Wednesday. 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 report on Tuesday. National Bankshares dropped their price objective on shares of Lucero Energy from C$0.90 to C$0.75 in a report on Friday, September 27th. Finally, Canaccord Genuity Group cut Lucero Energy from a "buy" rating to a "hold" rating and reduced their target price for the company from C$0.80 to C$0.45 in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of C$0.55.

Lucero Energy Stock Down 6.0 %

Shares of LOU stock traded down C$0.03 during trading hours on Tuesday, reaching C$0.39. The stock had a trading volume of 1,818,926 shares, compared to its average volume of 282,027. The stock has a fifty day simple moving average of C$0.43. The firm has a market capitalization of C$248.56 million, a price-to-earnings ratio of 4.88 and a beta of 1.72. Lucero Energy has a 12 month low of C$0.39 and a 12 month high of C$0.70.

Lucero Energy (CVE:LOU - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported C$0.01 earnings per share (EPS) for the quarter. The business 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%. As a group, equities analysts expect 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.