Lucero Energy (CVE:LOU) Downgraded by CIBC to “Tender”

CIBC lowered shares of Lucero Energy (CVE:LOU) from a neutral rating to a tender rating in a research note published on Tuesday,BayStreet.CA reports. CIBC currently has C$0.47 price target on the stock, down from their previous price target of C$0.65.

Other equities research analysts also recently issued reports about the stock. National Bankshares lowered their price target on shares of Lucero Energy from C$0.90 to C$0.75 in a report on Friday, September 27th. Cormark upgraded Lucero Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Finally, 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.

Lucero Energy Price Performance

LOU opened at C$0.43 on Tuesday. The stock has a 50-day simple moving average of C$0.43. Lucero Energy has a twelve month low of C$0.40 and a twelve month high of C$0.70. The stock has a market capitalization of C$270.87 million, a P/E ratio of 5.31 and a beta of 1.72.

Lucero Energy (CVE:LOU) last issued its earnings results on Wednesday, November 6th. The company reported C$0.01 earnings per share (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. On average, research analysts expect that Lucero Energy will post 0.0602883 earnings per share for the current 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.