MEG Energy Corp. (TSE:MEG) Receives C$32.55 Average Target Price from Analysts

MEG Energy Corp. (TSE:MEG - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$32.55.

MEG has been the subject of a number of research reports. BMO Capital Markets reduced their price objective on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Jefferies Financial Group reduced their target price on MEG Energy from C$32.00 to C$26.00 and set a "hold" rating for the company in a research report on Monday, September 16th. Scotiabank upgraded shares of MEG Energy from a "sector perform" rating to an "outperform" rating and set a C$35.00 price target on the stock in a research note on Wednesday, September 25th. Royal Bank of Canada dropped their price objective on shares of MEG Energy from C$35.00 to C$34.00 in a research note on Thursday. Finally, TD Securities lifted their target price on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th.

MEG Energy Stock Performance

MEG traded down C$0.29 during midday trading on Monday, reaching C$25.84. The company's stock had a trading volume of 2,038,034 shares, compared to its average volume of 1,668,231. MEG Energy has a twelve month low of C$22.79 and a twelve month high of C$33.70. The stock has a market cap of C$6.96 billion, a P/E ratio of 12.28, a PEG ratio of 0.17 and a beta of 2.89. The company has a fifty day simple moving average of C$25.94 and a 200 day simple moving average of C$27.86. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 26.35.

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

MEG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Monday, December 16th. MEG Energy's payout ratio is currently 19.05%.

Insider Transactions at MEG Energy

In other news, Director James D. Mcfarland bought 5,000 shares of the stock in a transaction on Friday, August 30th. The stock was purchased at an average price of C$26.94 per share, for a total transaction of C$134,700.00. In other MEG Energy news, Director James D. Mcfarland bought 5,000 shares of MEG Energy stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average price of C$26.94 per share, for a total transaction of C$134,700.00. Also, Director Michael Mcallister purchased 7,400 shares of the stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of C$25.67 per share, for a total transaction of C$189,986.86. 0.33% of the stock is owned by insiders.

MEG Energy Company Profile

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.