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

Shares of MEG Energy Corp. (TSE:MEG - Get Free Report) have received a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$32.45.

MEG has been the topic of a number of recent research reports. National Bankshares decreased their price objective on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. BMO Capital Markets cut their price objective on shares of MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Scotiabank raised shares of MEG Energy from a "sector perform" rating to an "outperform" rating and set a C$35.00 price objective on the stock in a research report on Wednesday, September 25th. Jefferies Financial Group cut their target price on 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. Finally, TD Securities upped their price objective on 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.

Insider Buying and Selling

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 purchased 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 bought 3,500 shares of MEG Energy stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average cost of C$25.06 per share, for a total transaction of C$87,713.85. Insiders purchased 12,805 shares of company stock worth $303,669 in the last three months. 0.33% of the stock is owned by insiders.

MEG Energy Price Performance

Shares of MEG stock traded up C$0.74 during mid-day trading on Tuesday, hitting C$23.60. The company had a trading volume of 1,350,976 shares, compared to its average volume of 1,678,159. 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 capitalization of C$6.36 billion, a P/E ratio of 11.24, a P/E/G ratio of 0.17 and a beta of 2.89. The stock's 50 day moving average price is C$24.80 and its 200-day moving average price is C$26.32. MEG Energy has a 52-week low of C$22.02 and a 52-week high of C$33.70.

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

MEG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, December 16th. MEG Energy's dividend payout ratio (DPR) is 19.05%.

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.