MEG Energy Corp. (TSE:MEG) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of MEG Energy Corp. (TSE:MEG - Get Free Report) have been given an average rating of "Moderate Buy" by the nine research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$32.00.

Several research firms have recently commented on MEG. Desjardins raised MEG Energy from a "hold" rating to a "moderate buy" rating in a report on Tuesday, January 28th. Royal Bank of Canada reduced their price objective on MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. National Bankshares lifted their price objective 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. TD Securities lifted their price objective on MEG Energy from C$35.00 to C$36.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, ATB Capital reduced their price objective on MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th.

Insiders Place Their Bets

In other MEG Energy news, Director Robert Ross Rooney acquired 8,500 shares of the stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of C$23.06 per share, with a total value of C$195,993.00. Also, Director Kimberley Elizabeth Lynch Proctor acquired 3,500 shares of the stock in a transaction dated Thursday, November 28th. The stock was acquired at an average cost of C$25.06 per share, with a total value of C$87,713.85. Over the last 90 days, insiders purchased 12,805 shares of company stock valued at $303,669. Corporate insiders own 0.33% of the company's stock.

MEG Energy Price Performance

Shares of MEG traded down C$1.38 during mid-day trading on Wednesday, hitting C$22.66. The company's stock had a trading volume of 3,570,887 shares, compared to its average volume of 2,269,868. 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 firm has a 50-day simple moving average of C$23.59 and a 200 day simple moving average of C$25.13. The firm has a market capitalization of C$5.87 billion, a P/E ratio of 12.00, a P/E/G ratio of 0.17 and a beta of 2.89. MEG Energy has a 1-year low of C$22.02 and a 1-year high of C$33.70.

MEG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.77%. The ex-dividend date was Monday, December 16th. MEG Energy's payout ratio is 21.19%.

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.