Robert Ross Rooney Purchases 8,500 Shares of MEG Energy Corp. (TSE:MEG) Stock

MEG Energy Corp. (TSE:MEG - Get Free Report) Director Robert Ross Rooney acquired 8,500 shares of MEG Energy stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of C$23.06 per share, with a total value of C$195,993.00.

MEG Energy Price Performance

Shares of MEG stock traded down C$0.17 during trading hours on Thursday, reaching C$22.44. The company's stock had a trading volume of 2,177,183 shares, compared to its average volume of 1,684,123. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. MEG Energy Corp. has a fifty-two week low of C$22.33 and a fifty-two week high of C$33.70. The company has a market capitalization of C$6.05 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.17 and a beta of 2.89. The firm's 50 day simple moving average is C$25.50 and its 200-day simple moving average is C$26.68.

MEG Energy (TSE:MEG - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing the consensus estimate of C$0.63 by C($0.01). The business had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. Sell-side analysts forecast that MEG Energy Corp. will post 2.2734628 earnings per share for the current year.

MEG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, December 16th. MEG Energy's dividend payout ratio (DPR) is 19.05%.

Wall Street Analyst Weigh In

MEG has been the subject of several recent research reports. ATB Capital reduced their price target on MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Jefferies Financial Group decreased their price target on shares of MEG Energy from C$32.00 to C$26.00 and set a "hold" rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada lowered their price target on shares of MEG Energy from C$34.00 to C$33.00 in a research report on Wednesday, November 27th. Scotiabank raised shares of MEG Energy from a "sector perform" rating to an "outperform" rating and set a C$35.00 price objective for the company in a report on Wednesday, September 25th. Finally, TD Securities raised their target price on shares of MEG Energy from C$35.00 to C$36.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$32.45.

About MEG Energy

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.