MEG Energy Corp. (MEG) Given Average Recommendation of “Buy” by Brokerages
MEG Energy Corp. (TSE:MEG) has been given an average recommendation of “Buy” by the nine ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$6.94.
Several analysts have recently weighed in on MEG shares. CIBC increased their price target on shares of MEG Energy from C$4.50 to C$5.25 in a research note on Tuesday, October 17th. Barclays increased their price target on shares of MEG Energy from C$5.00 to C$6.00 in a research note on Friday, October 27th. GMP Securities increased their price target on shares of MEG Energy from C$5.50 to C$7.00 and gave the company a “buy” rating in a research note on Monday, December 4th. Scotiabank cut shares of MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 price target for the company. in a research note on Wednesday, November 15th. Finally, National Bank Financial increased their price target on shares of MEG Energy from C$4.75 to C$5.25 and gave the company a “sector perform” rating in a research note on Friday, October 27th.
Shares of MEG Energy (TSE MEG) traded down C$0.02 during midday trading on Friday, reaching C$5.45. 1,099,834 shares of the company traded hands, compared to its average volume of 1,232,724. MEG Energy has a one year low of C$3.28 and a one year high of C$9.59. The stock has a market cap of $1,600.00, a PE ratio of -7.79 and a beta of 2.53.
About MEG Energy
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.
Receive News & Ratings for MEG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEG Energy and related companies with MarketBeat.com's FREE daily email newsletter.