GMP Securities Downgrades Leucrotta Exploration (CVE:LXE) to Hold

Leucrotta Exploration (CVE:LXE) was downgraded by stock analysts at GMP Securities from a “buy” rating to a “hold” rating in a research report issued on Friday, June 28th, BayStreet.CA reports. They presently have a C$1.15 price target on the oil and natural gas company’s stock, down from their previous price target of C$1.40. GMP Securities’ target price indicates a potential upside of 55.41% from the company’s previous close.

A number of other brokerages have also recently commented on LXE. Raymond James reissued an “outperform” rating and issued a $36.00 price objective on shares of Zymeworks in a research note on Thursday, May 30th. National Bank Financial decreased their price target on shares of Yangarra Resources from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Cormark decreased their price target on shares of Prairie Provident Resources from C$0.45 to C$0.40 in a research note on Tuesday, April 23rd.

CVE LXE traded down C$0.01 during trading hours on Friday, reaching C$0.74. The company’s stock had a trading volume of 13,000 shares, compared to its average volume of 173,016. The company has a market cap of $148.39 million and a PE ratio of -33.20. Leucrotta Exploration has a fifty-two week low of C$0.70 and a fifty-two week high of C$1.99. The business’s 50-day moving average price is C$0.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.55.

Leucrotta Exploration (CVE:LXE) last issued its quarterly earnings data on Wednesday, May 29th. The oil and natural gas company reported C$0.01 EPS for the quarter, meeting the Zacks’ consensus estimate of C$0.01. The business had revenue of C$8.10 million during the quarter, compared to analyst estimates of C$9.35 million. As a group, equities research analysts forecast that Leucrotta Exploration will post 0.01 earnings per share for the current year.

In other Leucrotta Exploration news, Senior Officer Robert John Zakresky sold 100,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of C$0.81, for a total transaction of C$81,000.00. Following the sale, the insider now directly owns 5,232,720 shares of the company’s stock, valued at approximately C$4,238,503.20. Also, Senior Officer Richard Douglas Sereda sold 50,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$0.86, for a total transaction of C$43,100.00. Following the transaction, the insider now owns 851,706 shares in the company, valued at C$734,170.57.

About Leucrotta Exploration

Leucrotta Exploration Inc operates as an oil and natural gas company. The company acquires, explores for, develops, and produces oil and natural gas reserves in northeastern British Columbia, Canada. It holds interest in approximately 100,500 gross acres of Montney land in Doe/Mica. Leucrotta Exploration Inc was incorporated in 2014 and is based in Calgary, Canada.

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