MEG Energy Corp (MEG) Given Average Rating of “Hold” by Analysts
Shares of MEG Energy Corp (TSE:MEG) have received an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$7.23.
A number of research analysts recently commented on MEG shares. National Bank Financial restated a “sector perform” rating and set a C$4.75 price objective on shares of MEG Energy Corp in a research note on Tuesday, June 27th. GMP Securities cut MEG Energy Corp from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$8.50 to C$4.00 in a research note on Wednesday, June 28th. CIBC decreased their price target on MEG Energy Corp from C$8.00 to C$4.50 in a research note on Thursday, July 20th. Finally, TD Securities increased their price target on MEG Energy Corp from C$5.50 to C$6.00 and gave the stock a “hold” rating in a research note on Friday, July 28th.
MEG Energy Corp (MEG) traded up 0.99% on Tuesday, reaching $5.10. 1,672,351 shares of the company were exchanged. The firm’s market capitalization is $1.50 billion. The firm has a 50-day moving average of $4.09 and a 200 day moving average of $5.83. MEG Energy Corp has a 12-month low of $3.28 and a 12-month high of $9.83.
MEG Energy Corp (TSE:MEG) last issued its quarterly earnings data on Thursday, July 27th. The company reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.05. The firm had revenue of $574.03 million during the quarter. MEG Energy Corp had a return on equity of 0.18% and a net margin of 0.28%. On average, equities analysts predict that MEG Energy Corp will post ($0.70) earnings per share for the current year.
In related news, insider Eric Lloyd Toews bought 10,000 shares of MEG Energy Corp stock in a transaction dated Wednesday, June 7th. The stock was acquired at an average cost of C$4.60 per share, with a total value of C$46,000.00.
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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