MEG Energy (TSE:MEG) Price Target Lowered to C$35.00 at ATB Capital

MEG Energy (TSE:MEG) had its price objective dropped by equities research analysts at ATB Capital from C$37.00 to C$35.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. ATB Capital’s target price would suggest a potential upside of 41.07% from the stock’s current price.

MEG has been the topic of a number of other reports. TD Securities raised their price objective on shares of MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. National Bankshares lowered their price target on shares of MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th. BMO Capital Markets lowered their price target on shares of MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. Jefferies Financial Group lowered their price target on shares of MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Finally, Royal Bank of Canada lowered their price target on shares of MEG Energy from C$34.00 to C$33.00 in a research note on Wednesday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$32.45.

MEG Energy Stock Up 0.4 %

Shares of TSE:MEG traded up C$0.10 during midday trading on Wednesday, reaching C$24.81. 731,545 shares of the company were exchanged, compared to its average volume of 1,675,050. MEG Energy has a fifty-two week low of C$22.79 and a fifty-two week 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 stock has a fifty day simple moving average of C$26.11 and a two-hundred day simple moving average of C$27.38. The firm has a market cap of C$6.69 billion, a PE ratio of 11.81, a P/E/G ratio of 0.17 and a beta of 2.89.

MEG Energy (TSE:MEG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.01). MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The company had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. As a group, sell-side analysts forecast that MEG Energy will post 2.2734628 earnings per share for the current year.

Insider Buying and Selling

In other MEG Energy news, Director Michael Mcallister acquired 7,400 shares of the company’s stock in a transaction on 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. Also, Director James D. Mcfarland acquired 5,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was acquired at an average price of C$26.94 per share, with a total value of C$134,700.00. 0.33% of the stock is currently owned by 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.