Lucero Energy (CVE:LOU) Trading Up 2.3% - Here's What Happened

Shares of Lucero Energy Corp. (CVE:LOU - Get Free Report) shot up 2.3% during mid-day trading on Wednesday . The stock traded as high as C$0.46 and last traded at C$0.45. 115,800 shares traded hands during trading, a decline of 64% from the average session volume of 319,690 shares. The stock had previously closed at C$0.44.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. National Bankshares cut their target price on Lucero Energy from C$0.90 to C$0.75 in a research report on Friday, September 27th. Haywood Securities cut shares of Lucero Energy from a "buy" rating to a "tender" rating and cut their price target for the company from C$0.80 to C$0.49 in a report on Wednesday, December 18th. Canaccord Genuity Group lowered shares of Lucero Energy from a "buy" rating to a "hold" rating and decreased their price objective for the stock from C$0.80 to C$0.45 in a report on Tuesday, December 17th. BMO Capital Markets cut their target price on shares of Lucero Energy from C$0.75 to C$0.60 in a research note on Friday, December 13th. Finally, Canaccord Genuity Group downgraded Lucero Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$0.55.

Lucero Energy Price Performance

The company has a market cap of C$286.80 million, a price-to-earnings ratio of 5.63 and a beta of 1.72. The company has a 50-day moving average of C$0.42.

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 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 for the quarter. As a group, equities research analysts expect that Lucero Energy Corp. will post 0.0602883 EPS for the current 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.