MEG Energy Corp. (OTCMKTS:MEGEF – Get Rating) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,400,900 shares, an increase of 19.7% from the June 30th total of 2,840,700 shares. Based on an average trading volume of 404,100 shares, the short-interest ratio is presently 8.4 days.
Analyst Upgrades and Downgrades
MEGEF has been the subject of a number of recent analyst reports. CIBC upped their price objective on MEG Energy from C$20.00 to C$23.00 in a research note on Thursday, April 14th. Scotiabank downgraded MEG Energy from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, June 8th. TD Securities decreased their target price on MEG Energy from C$23.00 to C$22.00 in a research report on Friday, July 29th. BMO Capital Markets boosted their target price on MEG Energy from C$22.00 to C$25.00 in a research report on Tuesday, May 3rd. Finally, Royal Bank of Canada boosted their target price on MEG Energy from C$21.00 to C$22.00 in a research report on Wednesday, May 4th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, MEG Energy currently has an average rating of "Hold" and an average target price of $21.38.
Get MEG Energy alerts:MEG Energy Stock Performance
Shares of MEGEF stock opened at $11.61 on Friday. MEG Energy has a 1 year low of $5.23 and a 1 year high of $19.90. The stock's 50 day simple moving average is $14.72 and its two-hundred day simple moving average is $14.16.
MEG Energy Company Profile
(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.
Further Reading
- Get a free copy of the StockNews.com research report on MEG Energy (MEGEF)
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