MEG Energy Corp. (TSE:MEG) Receives C$32.27 Consensus Price Target from Analysts

Shares of MEG Energy Corp. (TSE:MEG - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten research firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$32.27.

MEG has been the topic of a number of research reports. National Bankshares cut their target price on shares of MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. ATB Capital reduced their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. TD Securities lifted 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. Royal Bank of Canada cut their price target on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. Finally, BMO Capital Markets reduced their price target on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th.

Insider Activity

In other news, Director Robert Ross Rooney bought 8,500 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost 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 shares were purchased at an average price of C$25.06 per share, for a total transaction of C$87,713.85. Insiders have bought a total of 12,805 shares of company stock worth $303,669 over the last three months. Corporate insiders own 0.33% of the company's stock.

MEG Energy Price Performance

Shares of MEG stock traded down C$0.23 during trading hours on Friday, reaching C$23.56. 1,604,816 shares of the company were exchanged, compared to its average volume of 2,332,702. The company has a debt-to-equity ratio of 26.35, a current ratio of 1.54 and a quick ratio of 1.17. The company has a market cap of C$6.35 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 0.17 and a beta of 2.89. The stock's fifty day moving average is C$24.14 and its two-hundred day moving average is C$25.74. MEG Energy has a fifty-two week low of C$22.02 and a fifty-two week high of C$33.70.

MEG Energy (TSE:MEG - Get Free Report) last released 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). MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The firm had revenue of C$1.27 billion during the quarter, compared to analyst estimates of C$1.33 billion. Sell-side analysts forecast that MEG Energy will post 2.2734628 earnings per share for the current fiscal year.

MEG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, December 16th. MEG Energy's dividend payout ratio (DPR) is presently 19.05%.

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.