MEG Energy Corp. (TSE:MEG - Get Free Report) declared a quarterly dividend on Thursday, March 20th, TickerTech Dividends reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.10 per share on Tuesday, April 15th. This represents a $0.40 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, March 20th.
MEG Energy Stock Up 0.1 %
MEG stock traded up C$0.02 on Friday, hitting C$24.85. 2,308,255 shares of the company's stock were exchanged, compared to its average volume of 2,812,833. MEG Energy has a 12-month low of C$19.77 and a 12-month high of C$33.70. The firm has a 50 day moving average price of C$23.41 and a two-hundred day moving average price of C$24.54. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. The stock has a market cap of C$6.44 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89.
Insider Activity
In related news, Director Darlene Miriam Gates sold 91,584 shares of MEG Energy stock in a transaction dated Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total value of C$2,215,416.96. Also, Senior Officer Erik Alexander Alson sold 32,728 shares of MEG Energy stock in a transaction dated Saturday, March 15th. The shares were sold at an average price of C$24.19, for a total value of C$791,690.32. Insiders own 0.33% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on MEG. TD Securities lowered their price target on MEG Energy from C$33.00 to C$32.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Royal Bank of Canada lowered their price target on MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. National Bankshares lifted their price target on MEG Energy from C$27.00 to C$28.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 30th. Desjardins cut MEG Energy from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$29.00 to C$26.50 in a research report on Wednesday. Finally, ATB Capital lowered their price target on MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of C$30.95.
Check Out Our Latest Report on MEG
About MEG Energy
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MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.
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