Shares of MEG Energy Corp. (TSE:MEG – Get Rating) have earned an average recommendation of "Hold" from the fourteen research firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$21.34.

A number of analysts recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of MEG Energy from C$25.00 to C$28.00 in a research report on Tuesday, August 16th. National Bankshares decreased their price objective on MEG Energy from C$31.00 to C$30.00 and set an "outperform" rating on the stock in a report on Monday, July 18th. CIBC reduced their target price on MEG Energy from C$26.00 to C$22.00 in a report on Wednesday, August 31st. TD Securities dropped their target price on MEG Energy from C$23.00 to C$22.00 and set a "hold" rating for the company in a research report on Friday, July 29th. Finally, Raymond James increased their target price on shares of MEG Energy from C$24.00 to C$25.50 and gave the stock an "outperform" rating in a research note on Tuesday, July 5th.

MEG Energy Stock Up 1.7 %

MEG stock opened at C$17.88 on Thursday. MEG Energy has a 12 month low of C$7.99 and a 12 month high of C$24.47. The firm has a market cap of C$5.44 billion and a PE ratio of 6.53. The firm has a 50 day simple moving average of C$17.18 and a 200 day simple moving average of C$18.40. The company has a debt-to-equity ratio of 52.55, a current ratio of 1.61 and a quick ratio of 1.09.

Insiders Place Their Bets

In other news, Director James D. Mcfarland sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of C$24.04, for a total value of C$120,195.00. Following the completion of the sale, the director now directly owns 4,009 shares of the company's stock, valued at approximately C$96,372.35.

About MEG Energy

(Get Rating)

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The company owns a 100% interest in approximately 410 square miles of mineral leases. It also develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.

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