MEG Energy (TSE:MEG) Reaches New 12-Month Low - Here's What Happened

MEG Energy Corp. (TSE:MEG - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The company traded as low as C$22.72 and last traded at C$22.85, with a volume of 132061 shares changing hands. The stock had previously closed at C$23.26.

Analyst Ratings Changes

Several research firms have issued reports on MEG. BMO Capital Markets dropped their price objective on MEG Energy from C$37.00 to C$34.00 in a report on Friday, October 4th. TD Securities upped their price target on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. National Bankshares decreased their price objective on shares of MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. Jefferies Financial Group cut their target price on shares of 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, ATB Capital decreased their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, MEG Energy currently has a consensus rating of "Moderate Buy" and an average price target of C$32.45.

MEG Energy Price Performance

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 stock has a market capitalization of C$6.25 billion, a P/E ratio of 10.89, a PEG ratio of 0.17 and a beta of 2.89. The stock's fifty day moving average is C$25.70 and its 200-day moving average is C$26.78.

MEG Energy (TSE:MEG - Get Free Report) last released 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). MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The firm had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. On average, equities analysts anticipate that MEG Energy Corp. will post 2.2734628 earnings per share for the current year.

MEG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.72%. MEG Energy's dividend payout ratio (DPR) is presently 19.05%.

Insider Buying and Selling

In other MEG Energy news, Director Kimberley Elizabeth Lynch Proctor bought 3,500 shares of the firm's stock in a transaction dated 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. 0.33% of the stock is currently 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.