MEG Energy (MEG) to Release Quarterly Earnings on Tuesday

MEG Energy (TSE:MEG - Get Free Report) is scheduled to be announcing its earnings results after the market closes on Tuesday, November 5th. Analysts expect the company to announce earnings of C$0.68 per share for the quarter.

MEG Energy Trading Down 1.4 %

Shares of MEG traded down C$0.35 during mid-day trading on Tuesday, hitting C$25.08. The company had a trading volume of 1,277,863 shares, compared to its average volume of 1,666,257. MEG Energy has a 1-year low of C$22.79 and a 1-year high of C$33.70. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. The business's 50-day simple moving average is C$26.18 and its 200-day simple moving average is C$28.23. The stock has a market cap of C$6.76 billion, a PE ratio of 12.08, a P/E/G ratio of 0.17 and a beta of 2.89.

MEG Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.59%. MEG Energy's dividend payout ratio (DPR) is presently 19.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MEG shares. Jefferies Financial Group decreased their target price on MEG Energy from C$32.00 to C$26.00 and set a "hold" rating for the company in a report on Monday, September 16th. BMO Capital Markets reduced their target price on shares of MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Scotiabank raised 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 report on Wednesday, September 25th. Royal Bank of Canada cut their price objective on shares of MEG Energy from C$39.00 to C$35.00 in a report on Tuesday, September 17th. Finally, National Bankshares dropped their target price on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MEG Energy has an average rating of "Moderate Buy" and a consensus price target of C$32.27.

Insider Activity

In other news, Director Michael Mcallister acquired 7,400 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was acquired 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 acquired 5,000 shares of the business's stock in a transaction dated Friday, August 30th. The stock was bought at an average price of C$26.94 per share, for a total transaction of C$134,700.00. Also, Director Michael Mcallister purchased 7,400 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of C$25.67 per share, with a total value of C$189,986.86. Insiders own 0.33% of the company's stock.

MEG Energy Company Profile

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.