MEG Energy Corp. (TSE:MEG) has been assigned an average rating of “Buy” from the eighteen analysts that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$9.83.
MEG has been the topic of a number of recent analyst reports. Tudor Pickering & Holt set a C$10.00 target price on MEG Energy and gave the company a “buy” rating in a research report on Friday, July 23rd. UBS Group reiterated a “neutral” rating and set a C$8.30 target price on shares of MEG Energy in a research report on Monday, July 26th. Tudor Pickering increased their target price on MEG Energy to C$10.00 and gave the company a “buy” rating in a research report on Friday, July 23rd. National Bank Financial set a C$14.50 target price on MEG Energy in a research report on Friday, July 23rd. Finally, BMO Capital Markets raised their price objective on MEG Energy from C$10.00 to C$14.00 and gave the company a “na” rating in a report on Monday, June 21st.
Shares of TSE MEG opened at C$10.27 on Monday. The stock has a market capitalization of C$3.15 billion and a price-to-earnings ratio of 53.77. MEG Energy has a 12 month low of C$2.14 and a 12 month high of C$10.53. The firm’s 50 day simple moving average is C$8.54 and its 200-day simple moving average is C$8.04. The company has a debt-to-equity ratio of 86.98, a current ratio of 1.20 and a quick ratio of 0.95.
In related news, Director William Robert Klesse purchased 10,000 shares of MEG Energy stock in a transaction dated Wednesday, August 18th. The shares were acquired at an average price of C$7.56 per share, for a total transaction of C$75,580.56. Following the acquisition, the director now directly owns 390,000 shares in the company, valued at C$2,947,641.84.
MEG Energy Company Profile
MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in the southern Athabasca region of Alberta, Canada. The company owns a 100% interest in approximately 450 square miles of mineral leases. It is developing 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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