MEG Energy Corp. (TSE:MEG) Receives Average Recommendation of “Moderate Buy” from Analysts

MEG Energy Corp. (TSE:MEG) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$32.00.

Several analysts have weighed in on MEG shares. ATB Capital lowered their target price on shares of MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. National Bankshares boosted their target price on shares of MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Royal Bank of Canada lowered their target price on shares of MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. TD Securities upped their price target on shares of MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Desjardins upgraded shares of MEG Energy from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, January 28th.

MEG Energy Stock Up 1.2 %

MEG stock opened at C$23.26 on Wednesday. The company has a debt-to-equity ratio of 22.80, a current ratio of 1.55 and a quick ratio of 1.17. MEG Energy has a 1-year low of C$22.02 and a 1-year high of C$33.70. The firm has a fifty day moving average price of C$23.60 and a two-hundred day moving average price of C$25.22. The firm has a market cap of C$6.03 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.17 and a beta of 2.89.

MEG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.72%. The ex-dividend date was Monday, December 16th. MEG Energy’s payout ratio is currently 21.19%.

Insider Buying and Selling

In related news, Director Robert Ross Rooney acquired 8,500 shares of MEG Energy stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of C$23.06 per share, with a total value of C$195,993.00. Also, Director Kimberley Elizabeth Lynch Proctor purchased 3,500 shares of the business’s stock in a transaction on Thursday, November 28th. The stock was acquired at an average cost of C$25.06 per share, with a total value of C$87,713.85. Insiders purchased 12,805 shares of company stock valued at $303,669 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

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.