MEG Energy (TSE:MEG - Get Free Report) had its price objective reduced by investment analysts at Royal Bank of Canada from C$35.00 to C$34.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Royal Bank of Canada's price target suggests a potential upside of 24.91% from the stock's previous close.
Other equities analysts also recently issued research reports about the stock. TD Securities boosted 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. Scotiabank upgraded shares of MEG Energy from a "sector perform" rating to an "outperform" rating and set a C$35.00 price target for the company in a research note on Wednesday, September 25th. Jefferies Financial Group lowered their target price on 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. National Bankshares cut their price target on MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th. Finally, BMO Capital Markets reduced their price objective on MEG Energy from C$37.00 to C$34.00 in a report on Friday, October 4th. Six research 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 currently has an average rating of "Hold" and an average target price of C$32.55.
Check Out Our Latest Report on MEG Energy
MEG Energy Trading Down 0.4 %
Shares of MEG stock traded down C$0.11 during trading hours on Thursday, hitting C$27.22. The company had a trading volume of 1,237,445 shares, compared to its average volume of 1,660,286. MEG Energy has a fifty-two week low of C$22.79 and a fifty-two week high of C$33.70. 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 company's fifty day moving average is C$25.95 and its 200 day moving average is C$27.93. The stock has a market capitalization of C$7.34 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89.
MEG Energy (TSE:MEG - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing analysts' consensus estimates of C$0.63 by C($0.01). MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The firm had revenue of C$1.27 billion for the quarter, compared to analysts' expectations of C$1.33 billion. Research analysts expect that MEG Energy will post 2.2734628 earnings per share for the current fiscal year.
Insider Activity at MEG Energy
In other news, Director Michael Mcallister acquired 7,400 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of C$25.67 per share, for a total transaction of C$189,986.86. In related news, Director James D. Mcfarland purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average price of C$26.94 per share, for a total transaction of C$134,700.00. Also, Director Michael Mcallister acquired 7,400 shares of MEG Energy stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of C$25.67 per share, for a total transaction of C$189,986.86. Company insiders own 0.33% of the company's stock.
About MEG Energy
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider MEG Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MEG Energy wasn't on the list.
While MEG Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
