MEG Energy (MEG) to Release Earnings on Monday

MEG Energy (TSE:MEG) is scheduled to announce its earnings results after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of C$0.47 per share for the quarter.

MEG Energy (TSE:MEG) last released its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.22). MEG Energy had a return on equity of 12.77% and a net margin of 10.06%. The firm had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.40 billion.

MEG Energy Stock Performance

TSE:MEG opened at C$30.77 on Friday. The firm’s 50-day moving average is C$30.77 and its 200-day moving average is C$27.10. MEG Energy has a 52-week low of C$19.41 and a 52-week high of C$33.70. The company has a debt-to-equity ratio of 30.55, a quick ratio of 1.17 and a current ratio of 1.48. The company has a market cap of C$8.37 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 0.17 and a beta of 3.16.

Analyst Upgrades and Downgrades

A number of research firms have commented on MEG. TD Securities boosted their price target on shares of MEG Energy from C$28.00 to C$32.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Jefferies Financial Group upped their target price on shares of MEG Energy from C$28.00 to C$35.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. BMO Capital Markets upped their target price on shares of MEG Energy from C$35.00 to C$37.00 in a research report on Thursday, March 28th. JPMorgan Chase & Co. upped their target price on shares of MEG Energy from C$33.00 to C$34.00 in a research report on Tuesday, March 12th. Finally, CIBC upped their target price on shares of MEG Energy from C$30.00 to C$34.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$33.09.

Insider Buying and Selling at MEG Energy

In related news, Senior Officer David Michael Granger sold 32,144 shares of MEG Energy stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. In related news, Senior Officer David Michael Granger sold 32,144 shares of MEG Energy stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. Also, Director Derek Watson Evans sold 234,562 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of C$28.94, for a total transaction of C$6,788,247.74. Insiders have sold a total of 301,679 shares of company stock valued at $8,825,336 in the last ninety days. 0.63% of the stock is currently owned by company insiders.

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.