MEG Energy (TSE:MEG) Price Target Raised to C$28.00

MEG Energy (TSE:MEG - Get Free Report) had its target price hoisted by analysts at National Bankshares from C$27.00 to C$28.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bankshares' price target indicates a potential upside of 19.71% from the company's current price.

A number of other brokerages also recently weighed in on MEG. BMO Capital Markets dropped their price objective on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Desjardins raised MEG Energy from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, January 28th. ATB Capital lowered their price target on MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. TD Securities raised their price target on MEG Energy from C$35.00 to C$36.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada lowered their price target on MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$32.00.

MEG Energy Stock Performance

Shares of TSE MEG traded down C$0.44 during trading on Thursday, hitting C$23.39. The company had a trading volume of 3,716,615 shares, compared to its average volume of 2,359,537. The stock has a 50 day simple moving average of C$23.91 and a 200 day simple moving average of C$25.58. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54. MEG Energy has a 12 month low of C$22.02 and a 12 month high of C$33.70. The firm has a market capitalization of C$6.30 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89.

MEG Energy (TSE:MEG - Get Free Report) last issued its earnings results 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 business had revenue of C$1.27 billion for the quarter, compared to the consensus estimate of C$1.33 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. As a group, analysts anticipate that MEG Energy will post 2.2734628 earnings per share for the current year.

Insider Buying and Selling at MEG Energy

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

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.