Lucero Energy (CVE:LOU) Trading Up 2.3% – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. National Bankshares lowered their price target on Lucero Energy from C$0.90 to C$0.75 in a research report on Friday, September 27th. Canaccord Genuity Group cut Lucero Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$0.80 to C$0.45 in a report on Tuesday, December 17th. Cormark raised Lucero Energy to a “moderate buy” rating in a research note on Monday, September 23rd. CIBC downgraded shares of Lucero Energy from a “neutral” rating to a “tender” rating and decreased their price target for the stock from C$0.65 to C$0.47 in a research note on Tuesday, December 17th. Finally, BMO Capital Markets lowered their price objective on shares of Lucero Energy from C$0.75 to C$0.60 in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$0.55.

Lucero Energy Stock Up 1.1 %

The stock has a 50 day moving average of C$0.42. The company has a market capitalization of C$289.99 million, a price-to-earnings ratio of 5.69 and a beta of 1.72.

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