Logan Energy (CVE:LGN) Stock Bumped Down to Hold by Scotiabank

Logan Energy (CVE:LGN) was downgraded by stock analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

A number of other equities analysts have also recently commented on LGN. ATB Cormark Capital Markets cut Logan Energy from an “outperform” rating to a “tender” rating and set a C$1.50 price target for the company. in a report on Tuesday. National Bank Financial set a C$1.75 price objective on Logan Energy and gave the company an “outperform” rating in a research note on Wednesday, September 30th. Royal Bank Of Canada set a C$1.50 price objective on Logan Energy and gave the company a “moderate buy” rating in a research note on Monday, August 10th. Finally, Scotia cut Logan Energy from an “outperform” rating to a “sector perform” rating and set a C$1.60 target price on the stock. in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Logan Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$1.47.

Logan Energy Trading Up 0.6%

CVE LGN opened at C$1.55 on Tuesday. The firm has a market capitalization of C$1.07 billion, a price-to-earnings ratio of 25.83 and a beta of -0.14. The firm’s 50 day simple moving average is C$1.21 and its 200 day simple moving average is C$0.97. Logan Energy has a 1 year low of C$0.74 and a 1 year high of C$1.59.

Key Logan Energy News

Here are the key news stories impacting Logan Energy this week:

• Positive Sentiment: Ovintiv acquisition provides a takeover premium and liquidity event. Ovintiv Canada ULC agreed to acquire Logan Energy in an all-cash arrangement valued at approximately C$980 million, or about C$1.26 billion including debt. Logan shareholders are expected to receive C$1.40 per share in cash, along with an interest in the newly spun-out Logan Oil Corp. The transaction would give Ovintiv a larger position in the Montney oil region. Ovintiv grows Canadian footprint again with Logan Energy deal
• Positive Sentiment: Strategic value of Logan’s Montney assets is attracting investor attention. Ovintiv’s proposed purchase expands its Canadian production footprint and could validate Logan’s asset base and growth prospects. The deal announcement also triggered a temporary trading halt while the market received the material information. Ovintiv Announces Agreement to Acquire Montney Oil Producer, Logan Energy Corp.
• Neutral Sentiment: Analysts moved closer to a deal-focused stance. Scotia downgraded Logan from “outperform” to “sector perform” but set a C$1.60 target, suggesting limited additional upside. The recommendation reflects the company’s transition from an operating-growth story to a transaction subject to completion. Scotia stock recommendations
• Negative Sentiment: ATB Cormark sees downside at the current valuation. The firm changed its rating from “outperform” to “tender” and assigned a C$1.50 target, below the recent trading level. This signals that much of the takeover-related value may already be reflected in LGN’s shares and that investors face deal-completion and timing risk. ATB Cormark Capital Markets stock recommendations

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.