Shares of MEG Energy Corp. (OTCMKTS:MEGEF – Get Rating) have earned an average rating of "Hold" from the eight analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $22.50.

Several equities analysts have recently issued reports on the company. Desjardins downgraded MEG Energy from a "buy" rating to a "hold" rating in a research report on Wednesday, July 27th. National Bank Financial dropped their target price on MEG Energy from C$31.00 to C$30.00 in a report on Monday, July 18th. TD Securities dropped their price target on MEG Energy from C$23.00 to C$22.00 in a report on Friday, July 29th. Finally, Scotiabank cut MEG Energy from an "outperform" rating to a "sector perform" rating in a report on Wednesday, June 8th.

MEG Energy Stock Performance

Shares of MEGEF stock opened at $13.59 on Tuesday. The business has a 50 day moving average of $13.28 and a two-hundred day moving average of $14.39. MEG Energy has a 52 week low of $6.23 and a 52 week high of $19.90.

MEG Energy Company Profile

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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