MEG Energy Corp (MEG) Receives Consensus Rating of “Buy” from Analysts
Shares of MEG Energy Corp (TSE:MEG) have earned an average recommendation of “Buy” from the ten brokerages that are currently covering the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$8.72.
MEG has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on MEG Energy Corp from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th. Scotiabank boosted their target price on MEG Energy Corp from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th. TD Securities decreased their target price on MEG Energy Corp from C$11.50 to C$11.00 and set a “speculative buy” rating for the company in a research note on Wednesday, January 25th. BMO Capital Markets boosted their target price on MEG Energy Corp from C$6.00 to C$8.00 in a research note on Monday, January 30th. Finally, Raymond James Financial, Inc. restated a “market perform” rating and set a C$8.50 target price on shares of MEG Energy Corp in a research note on Thursday, February 9th.
In other news, Director Timothy Edward Hodgson acquired 8,000 shares of MEG Energy Corp stock in a transaction on Tuesday, March 21st. The stock was bought at an average price of C$6.16 per share, for a total transaction of C$49,280.00.
MEG Energy Corp (TSE:MEG) traded down 0.33% during trading on Tuesday, hitting $6.05. 793,885 shares of the stock traded hands. The company’s market cap is $1.77 billion. MEG Energy Corp has a 12 month low of $4.72 and a 12 month high of $9.83. The company’s 50 day moving average price is $6.37 and its 200 day moving average price is $6.94.
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About MEG Energy Corp
MEG Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.
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