Mark Anand Telang Acquires 805 Shares of MEG Energy Corp. (TSE:MEG) Stock

MEG Energy Corp. (TSE:MEG - Get Free Report) Senior Officer Mark Anand Telang acquired 805 shares of MEG Energy stock in a transaction dated Friday, December 6th. The shares were acquired at an average price of C$24.80 per share, with a total value of C$19,962.47.

MEG Energy Stock Down 3.4 %

MEG Energy stock traded down C$0.84 during midday trading on Friday, reaching C$23.80. The stock had a trading volume of 1,920,100 shares, compared to its average volume of 1,672,346. The company has a fifty day moving average price of C$26.02 and a two-hundred day moving average price of C$27.04. The company has a market capitalization of C$6.41 billion, a P/E ratio of 11.33, a PEG ratio of 0.17 and a beta of 2.89. 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 Corp. has a 12 month low of C$22.79 and a 12 month high of C$33.70.

MEG Energy (TSE:MEG - Get Free Report) last released its quarterly 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 net margin of 10.43% and a return on equity of 12.99%. The company had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. As a group, equities analysts expect that MEG Energy Corp. will post 2.2734628 EPS for the current fiscal year.

MEG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, December 16th. MEG Energy's payout ratio is 19.05%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MEG shares. National Bankshares lowered their price objective on shares of MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th. ATB Capital lowered their price target on MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Jefferies Financial Group cut their price objective 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. BMO Capital Markets decreased their target price on MEG Energy from C$37.00 to C$34.00 in a report on Friday, October 4th. Finally, Scotiabank raised MEG Energy from a "sector perform" rating to an "outperform" rating and set a C$35.00 price target for the company in a report on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of C$32.45.

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.