MEG Energy (TSE:MEG - Get Free Report) had its price objective reduced by equities research analysts at TD Securities from C$33.00 to C$32.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD Securities' price target suggests a potential upside of 54.14% from the company's previous close.
Several other equities analysts also recently weighed in on MEG. National Bankshares raised their price target on MEG Energy from C$27.00 to C$28.00 and gave the company a "sector perform" rating in a report on Thursday, January 30th. ATB Capital dropped their target price on shares of MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Desjardins upgraded shares of MEG Energy from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada decreased their price target on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, MEG Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of C$31.64.
Check Out Our Latest Report on MEG
MEG Energy Stock Up 0.7 %
Shares of TSE:MEG traded up C$0.15 on Friday, hitting C$20.76. 4,836,926 shares of the company traded hands, compared to its average volume of 2,794,303. MEG Energy has a 52 week low of C$19.77 and a 52 week high of C$33.70. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 22.80. The stock has a 50 day simple moving average of C$23.47 and a 200-day simple moving average of C$24.87. The company has a market cap of C$5.38 billion, a PE ratio of 11.00, a PEG ratio of 0.17 and a beta of 2.89.
Insider Transactions at MEG Energy
In other MEG Energy news, Director Robert Ross Rooney purchased 8,500 shares of MEG Energy stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average price of C$23.06 per share, with a total value of C$195,993.00. Company insiders own 0.33% of the company's stock.
MEG Energy Company Profile
(
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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.
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