Logan Energy (CVE:LGN) Trading 1.4% Higher - Here's Why

Key Points

• Logan Energy Corp. (CVE:LGN) saw its shares rise 1.4% to C$0.73, despite a 55% decline in trading volume compared to its average.
• Analysts have set a target price of C$1.20 for Logan Energy, with a consensus rating of "Strong Buy" and an average target of C$1.49.
• The company, focused on crude oil and natural gas exploration in Canada, currently holds properties in Alberta and British Columbia.

Shares of Logan Energy Corp. (CVE:LGN - Get Free Report) traded up 1.4% on Wednesday . The stock traded as high as C$0.75 and last traded at C$0.73. 148,825 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 332,526 shares. The stock had previously closed at C$0.72.

Analysts Set New Price Targets

Separately, Roth Capital set a C$1.20 target price on Logan Energy and gave the company a "buy" rating in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and an average price target of C$1.49.

Logan Energy Trading Up 1.4%

The business's fifty day simple moving average is C$0.65 and its 200-day simple moving average is C$0.64. The firm has a market cap of C$421.88 million and a P/E ratio of 21.11.

About Logan Energy

Logan Energy Corp. engages in the exploration, development and production of crude oil and natural gas properties. The company holds interest in the Simonette and Pouce Coupe properties in northwest Alberta; and the Flatrock property in northeastern British Columbia. Logan Energy Corp. was incorporated in 2023 and is headquartered in Calgary, Canada.

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