MEG Energy Corp. (TSE:MEG - Get Free Report)'s stock price hit a new 52-week low on Friday . The company traded as low as C$19.37 and last traded at C$19.55, with a volume of 2383225 shares traded. The stock had previously closed at C$22.81.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on MEG. Royal Bank of Canada decreased their price objective on MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. Desjardins downgraded shares of MEG Energy from a "buy" rating to a "hold" rating and reduced their price target for the company from C$29.00 to C$26.50 in a research report on Wednesday, March 19th. TD Securities dropped their target price on shares of MEG Energy from C$33.00 to C$32.00 and set a "buy" rating for the company in a report on Friday, February 28th. National Bankshares raised their price target on MEG Energy from C$27.00 to C$28.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 30th. Finally, Scotiabank upgraded shares of MEG Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$30.95.
View Our Latest Stock Report on MEG
MEG Energy Trading Up 14.4 %
The business's 50 day moving average price is C$23.23 and its 200-day moving average price is C$24.39. The firm has a market cap of C$5.50 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55.
MEG Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.89%. MEG Energy's dividend payout ratio (DPR) is 21.19%.
Insider Transactions at MEG Energy
In other news, Director Darlene Miriam Gates sold 91,584 shares of the stock in a transaction on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total value of C$2,215,416.96. Also, Senior Officer Erik Alexander Alson sold 32,728 shares of the business's stock in a transaction dated Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$791,690.32. Insiders own 0.33% of the company's stock.
About MEG Energy
(
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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.
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