MEG Energy (TSE:MEG) Stock Price Passes Below Fifty Day Moving Average - Should You Sell?

MEG Energy Corp. (TSE:MEG - Get Free Report) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$24.64 and traded as low as C$24.23. MEG Energy shares last traded at C$24.68, with a volume of 1,966,235 shares.

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of research reports. Scotiabank upgraded MEG Energy from a "sector perform" rating to an "outperform" rating and set a C$35.00 target price on the stock in a report on Wednesday, September 25th. National Bankshares dropped their price objective on shares of MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th. Jefferies Financial Group decreased 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 research note on Monday, September 16th. ATB Capital dropped their price target on shares of MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Finally, BMO Capital Markets reduced their price objective on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$32.45.

MEG Energy Trading Down 1.7 %

The stock has a market capitalization of C$6.54 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 26.35. The company has a fifty day moving average of C$24.63 and a two-hundred day moving average of C$26.18.

MEG Energy (TSE:MEG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.63 by C($0.01). The firm had revenue of C$1.27 billion for 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%. On average, research analysts expect that MEG Energy Corp. will post 2.2734628 EPS for the current year.

MEG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be given a $0.10 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.65%. MEG Energy's dividend payout ratio is 19.05%.

Insider Buying and Selling

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