Lucero Energy (CVE:LOU) Trading 2.3% Higher – Time to Buy?

Lucero Energy Corp. (CVE:LOU) rose 2.3% during mid-day trading on Wednesday . The company traded as high as C$0.46 and last traded at C$0.45. Approximately 115,800 shares were traded 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

LOU has been the topic of several recent research reports. Canaccord Genuity Group cut shares of Lucero Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$0.80 to C$0.45 in a report on Tuesday, December 17th. CIBC lowered Lucero Energy from a “neutral” rating to a “tender” rating and lowered their price objective for the stock from C$0.65 to C$0.47 in a research note on Tuesday, December 17th. Cormark upgraded Lucero Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Canaccord Genuity Group cut Lucero Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, BMO Capital Markets cut their price objective on shares of Lucero Energy from C$0.75 to C$0.60 in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$0.55.

Lucero Energy Trading Up 2.3 %

The firm has a market cap of C$286.80 million, a P/E ratio of 5.63 and a beta of 1.72. The firm’s 50 day simple moving average is C$0.42.

Lucero Energy (CVE:LOU) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$0.01 earnings per share for the quarter. The business 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%. As a group, analysts forecast that Lucero Energy Corp. 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.