MEG Energy Corp. (TSE:MEG) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of MEG Energy Corp. (TSE:MEG - Get Free Report) have been given an average recommendation of "Hold" by the seven ratings firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$31.40.

Several equities research analysts have recently issued reports on MEG shares. ATB Capital decreased their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. 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 report on Thursday, January 30th. Desjardins downgraded MEG Energy from a "buy" rating to a "hold" rating and dropped their price objective for the company from C$29.00 to C$26.50 in a report on Wednesday. TD Securities decreased their target price on MEG Energy from C$33.00 to C$32.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Royal Bank of Canada decreased their target price on MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th.

MEG Energy Stock Up 1.3 %

TSE:MEG traded up C$0.31 during midday trading on Friday, reaching C$24.91. The company had a trading volume of 1,748,056 shares, compared to its average volume of 2,812,415. MEG Energy has a 12-month low of C$19.77 and a 12-month high of C$33.70. The firm has a market capitalization of C$6.46 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.17 and a beta of 2.89. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 22.80. The stock's fifty day simple moving average is C$23.39 and its 200-day simple moving average is C$24.57.

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MEG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, March 20th. MEG Energy's payout ratio is 21.19%.

Insider Activity

In related news, Senior Officer Erik Alexander Alson sold 32,728 shares of MEG Energy stock in a transaction that occurred on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$791,690.32. Also, Director Darlene Miriam Gates sold 91,584 shares of the stock in a transaction on Saturday, March 15th. The shares were sold at an average price of C$24.19, for a total value of C$2,215,416.96. Insiders own 0.33% of the company's stock.

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.