Lucero Energy (CVE:LOU) Shares Up 2.3% – Should You Buy?

Lucero Energy Corp. (CVE:LOU) shares 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 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on LOU. Canaccord Genuity Group cut shares of 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 report on Tuesday, December 17th. National Bankshares dropped their price objective on shares of Lucero Energy from C$0.90 to C$0.75 in a research note on Friday, September 27th. Haywood Securities cut shares of Lucero Energy from a “buy” rating to a “tender” rating and cut their price objective for the stock from C$0.80 to C$0.49 in a report on Wednesday, December 18th. CIBC lowered shares of Lucero Energy from a “neutral” rating to a “tender” rating and lowered their target price for the company from C$0.65 to C$0.47 in a report on Tuesday, December 17th. Finally, Canaccord Genuity Group downgraded Lucero Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$0.55.

Lucero Energy Stock Performance

The stock has a market capitalization of C$289.99 million, a P/E ratio of 5.69 and a beta of 1.72. The company’s 50-day moving average is C$0.42.

Lucero Energy (CVE:LOU) last posted its earnings results on Wednesday, November 6th. The company reported C$0.01 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%. Analysts predict that Lucero Energy Corp. will post 0.0602883 EPS for the current fiscal year.

Lucero Energy Company Profile

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.