Lucero Energy (CVE:LOU) Cut to “Hold” at Canaccord Genuity Group

Lucero Energy (CVE:LOU) was downgraded by equities research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$0.45 price target on the stock, down from their previous price target of C$0.80. Canaccord Genuity Group’s price objective would indicate a potential upside of 8.43% from the company’s previous close.

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

Lucero Energy Trading Down 2.4 %

Shares of CVE LOU opened at C$0.42 on Tuesday. The company has a market cap of C$264.49 million, a PE ratio of 5.19 and a beta of 1.72. Lucero Energy has a 52 week low of C$0.40 and a 52 week high of C$0.70. The firm has a 50 day moving average price of C$0.43.

Lucero Energy (CVE:LOU) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$0.01 earnings per share for the quarter. The company had revenue of C$39.94 million during the quarter. Lucero Energy had a return on equity of 9.56% and a net margin of 30.07%. Analysts predict 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.