MEG Energy (TSE:MEG) Stock Passes Above Fifty Day Moving Average - Time to Sell?

MEG Energy Corp. (TSE:MEG - Get Free Report) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$25.96 and traded as high as C$26.78. MEG Energy shares last traded at C$26.49, with a volume of 1,318,922 shares.

Analyst Ratings Changes

Several brokerages have recently commented on MEG. Jefferies Financial Group lowered their target price on shares of MEG Energy from C$32.00 to C$26.00 and set a "hold" rating for the company in a report on Monday, September 16th. National Bankshares decreased their price objective on shares of MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th. Royal Bank of Canada cut their target price on MEG Energy from C$39.00 to C$35.00 in a research note on Tuesday, September 17th. BMO Capital Markets decreased their price target on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Finally, TD Securities boosted their price objective on MEG Energy from C$35.00 to C$36.00 and gave the stock a "buy" rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of C$32.64.

MEG Energy Price Performance

The business's 50-day simple moving average is C$25.96 and its two-hundred day simple moving average is C$27.96. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. The stock has a market cap of C$7.37 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89.

MEG Energy (TSE:MEG - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing the consensus estimate of C$0.63 by C($0.01). The business had revenue of C$1.27 billion during the quarter, compared to the consensus estimate of C$1.33 billion. MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. Sell-side analysts expect that MEG Energy Corp. will post 2.2734628 EPS for the current year.

MEG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.40 dividend on an annualized basis and a yield of 1.46%. MEG Energy's dividend payout ratio (DPR) is 19.05%.

Insider Buying and Selling at MEG Energy

In other news, Director James D. Mcfarland bought 5,000 shares of the stock in a transaction on Friday, August 30th. The shares were acquired at an average cost of C$26.94 per share, for a total transaction of C$134,700.00. In other MEG Energy news, Director James D. Mcfarland purchased 5,000 shares of the stock in a transaction on Friday, August 30th. The shares were purchased at an average price of C$26.94 per share, with a total value of C$134,700.00. Also, Director Michael Mcallister acquired 7,400 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$25.67 per share, with a total value of C$189,986.86. Insiders own 0.33% of the company's stock.

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.