MEG Energy Corp. (TSE:MEG) Senior Officer Erik Alexander Alson Sells 32,728 Shares

MEG Energy Corp. (TSE:MEG - Get Free Report) Senior Officer Erik Alexander Alson sold 32,728 shares of the business's stock in a transaction that occurred on Saturday, March 15th. The shares were sold at an average price of C$24.19, for a total value of C$791,690.32.

MEG Energy Price Performance

TSE MEG traded up C$0.02 during trading on Friday, reaching C$24.85. The company's stock had a trading volume of 2,308,255 shares, compared to its average volume of 2,812,833. The stock has a market capitalization of C$6.44 billion, a PE ratio of 13.16, a P/E/G ratio of 0.17 and a beta of 2.89. The company has a debt-to-equity ratio of 22.80, a current ratio of 1.55 and a quick ratio of 1.17. The firm has a fifty day moving average of C$23.41 and a 200 day moving average of C$24.54. MEG Energy Corp. has a one year low of C$19.77 and a one year high of C$33.70.

MEG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.61%. MEG Energy's dividend payout ratio (DPR) is presently 21.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MEG. Royal Bank of Canada decreased their price objective on MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. ATB Capital cut their price objective on MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Desjardins cut MEG Energy from a "buy" rating to a "hold" rating and cut their price objective for the stock from C$29.00 to C$26.50 in a research report on Wednesday. TD Securities dropped their price target on MEG Energy from C$33.00 to C$32.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, National Bankshares upped their price target on MEG Energy from C$27.00 to C$28.00 and gave the company a "sector perform" rating in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, MEG Energy has an average rating of "Hold" and a consensus target price of C$30.95.

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About MEG Energy

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.