MEG Energy (TSE:MEG) Shares Pass Below 200-Day Moving Average - Time to Sell?

Shares of MEG Energy Corp. (TSE:MEG - Get Free Report) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$25.28 and traded as low as C$22.81. MEG Energy shares last traded at C$22.98, with a volume of 1,491,592 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Securities upped their target price on shares of MEG Energy from C$35.00 to C$36.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Desjardins raised MEG Energy from a "hold" rating to a "moderate buy" rating in a report on Tuesday, January 28th. ATB Capital decreased their price target on MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. Royal Bank of Canada decreased their price target on MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. Finally, National Bankshares increased their price target on MEG Energy from C$27.00 to C$28.00 and gave the stock a "sector perform" rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, MEG Energy presently has an average rating of "Moderate Buy" and a consensus price target of C$32.00.

MEG Energy Stock Up 0.8 %

The firm's 50 day moving average is C$23.60 and its two-hundred day moving average is C$25.22. The stock has a market cap of C$6.01 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 0.17 and a beta of 2.89. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 22.80.

MEG Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Monday, December 16th. MEG Energy's payout ratio is 21.19%.

Insider Activity at MEG Energy

In related news, Director Robert Ross Rooney acquired 8,500 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of C$23.06 per share, with a total value of C$195,993.00. Also, Director Kimberley Elizabeth Lynch Proctor acquired 3,500 shares of the company's stock in a transaction dated Thursday, November 28th. The shares were bought at an average cost of C$25.06 per share, with a total value of C$87,713.85. In the last quarter, insiders bought 12,805 shares of company stock valued at $303,669. 0.33% of the stock is owned by insiders.

About MEG Energy

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.