MEG Energy Corp. (TSE:MEG – Get Rating) has been assigned a consensus recommendation of "Hold" from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$21.41.
A number of research analysts have recently commented on the stock. Scotiabank lowered shares of MEG Energy from an "outperform" rating to a "hold" rating and boosted their price target for the company from C$23.00 to C$26.00 in a research report on Wednesday, June 8th. TD Securities reduced their price target on shares of 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. CIBC boosted their price target on shares of MEG Energy from C$23.00 to C$26.00 and gave the company a "neutral" rating in a research report on Thursday, June 9th. Raymond James boosted their price target on shares of MEG Energy from C$24.00 to C$25.50 and gave the company an "outperform" rating in a research report on Tuesday, July 5th. Finally, BMO Capital Markets boosted their price target on shares of MEG Energy from C$22.00 to C$25.00 in a research report on Tuesday, May 3rd.
Get MEG Energy alerts:MEG Energy Trading Up 2.3 %
Shares of MEG stock opened at C$15.27 on Friday. The company's fifty day simple moving average is C$18.83 and its two-hundred day simple moving average is C$18.10. The company has a debt-to-equity ratio of 52.55, a current ratio of 1.61 and a quick ratio of 1.09. MEG Energy has a 1 year low of C$6.85 and a 1 year high of C$24.47. The stock has a market capitalization of C$4.65 billion and a price-to-earnings ratio of 7.20.
Insider Activity
In related news, Director James D. Mcfarland sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of C$24.04, for a total value of C$120,195.00. Following the sale, the director now owns 4,009 shares in the company, valued at C$96,372.35. In other MEG Energy news, Senior Officer Chi-Tak Yee sold 84,900 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of C$21.30, for a total value of C$1,808,743.56. Following the transaction, the insider now directly owns 313,932 shares in the company, valued at C$6,688,132.90. Also, Director James D. Mcfarland sold 5,000 shares of the 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 transaction of C$120,195.00. Following the completion of the transaction, the director now owns 4,009 shares in the company, valued at C$96,372.35. Insiders have sold a total of 182,300 shares of company stock worth $3,730,739 over the last 90 days.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.
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