Lucero Energy (CVE:LOU) Stock Rating Lowered by Haywood Securities

Lucero Energy (CVE:LOU) was downgraded by analysts at Haywood Securities from a “buy” rating to a “tender” rating in a report issued on Wednesday,BayStreet.CA reports. They presently have a C$0.49 price target on the stock, down from their previous price target of C$0.80. Haywood Securities’ target price suggests a potential upside of 18.07% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Cormark upgraded shares of Lucero Energy to a “moderate buy” rating in a report on Monday, September 23rd. BMO Capital Markets reduced their price objective on Lucero Energy from C$0.75 to C$0.60 in a research note on Friday, December 13th. Canaccord Genuity Group cut Lucero Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from C$0.80 to C$0.45 in a research report on Tuesday. National Bankshares reduced their price objective on shares of Lucero Energy from C$0.90 to C$0.75 in a research note on Friday, September 27th. Finally, CIBC lowered shares of Lucero Energy from a “neutral” rating to a “tender” rating and decreased their target price for the stock from C$0.65 to C$0.47 in a report on Tuesday.

Lucero Energy Stock Performance

CVE LOU traded down C$0.01 during trading on Wednesday, hitting C$0.42. 628,700 shares of the company’s stock were exchanged, compared to its average volume of 270,718. The stock has a market capitalization of C$264.49 million, a P/E ratio of 5.19 and a beta of 1.72. Lucero Energy has a fifty-two week low of C$0.40 and a fifty-two week high of C$0.70. The firm’s 50 day moving average price is C$0.43.

Lucero Energy (CVE:LOU) last released 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 for the quarter. Lucero Energy had a return on equity of 9.56% and a net margin of 30.07%. On average, equities analysts predict 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.