Lucero Energy (CVE:LOU) Downgraded to “Tender” Rating by Haywood Securities

Haywood Securities lowered shares of Lucero Energy (CVE:LOU) from a buy rating to a tender rating in a report released on Wednesday morning,BayStreet.CA reports. Haywood Securities currently has C$0.49 target price on the stock, down from their previous target price of C$0.80.

Several other research analysts also recently weighed in on LOU. National Bankshares cut their target price on shares of Lucero Energy from C$0.90 to C$0.75 in a research note on Friday, September 27th. 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 research report on Tuesday. BMO Capital Markets cut their price target on Lucero Energy from C$0.75 to C$0.60 in a report on Friday, December 13th. Cormark upgraded Lucero Energy to a “moderate buy” rating in a report on Monday, September 23rd. Finally, Canaccord Genuity Group lowered Lucero Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from C$0.80 to C$0.45 in a research note on Tuesday.

Lucero Energy Price Performance

Shares of CVE:LOU opened at C$0.42 on Wednesday. The stock has a market cap of C$264.49 million, a price-to-earnings ratio of 5.19 and a beta of 1.72. The stock’s 50 day moving average price is C$0.43. Lucero Energy has a 12 month low of C$0.40 and a 12 month high of C$0.70.

Lucero Energy (CVE:LOU) last released its quarterly 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 during the quarter. Lucero Energy had a return on equity of 9.56% and a net margin of 30.07%. On average, sell-side analysts expect that Lucero Energy will post 0.0602883 EPS 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.