MEG Energy (TSE:MEG) PT Raised to C$37.00 at National Bankshares

MEG Energy (TSE:MEG) had its target price hoisted by investment analysts at National Bankshares from C$32.00 to C$37.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bankshares’ price objective would indicate a potential upside of 18.74% from the stock’s current price.

Several other brokerages also recently issued reports on MEG. ATB Capital increased their price objective on shares of MEG Energy from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. BMO Capital Markets increased their price objective on shares of MEG Energy from C$35.00 to C$37.00 in a research report on Thursday, March 28th. Jefferies Financial Group raised their price target on shares of MEG Energy from C$28.00 to C$35.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. TD Securities raised their price target on shares of MEG Energy from C$28.00 to C$32.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of MEG Energy from C$33.00 to C$34.00 in a research report on Tuesday, March 12th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$32.73.

MEG Energy Stock Down 0.4 %

Shares of TSE:MEG opened at C$31.16 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 30.55. MEG Energy has a 52-week low of C$19.41 and a 52-week high of C$33.70. The company has a 50 day moving average of C$29.61 and a two-hundred day moving average of C$26.72. The company has a market capitalization of C$8.48 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 0.17 and a beta of 3.16.

MEG Energy (TSE:MEG) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.59 by C($0.22). MEG Energy had a net margin of 10.06% and a return on equity of 12.77%. The firm had revenue of C$1.44 billion during the quarter, compared to analyst estimates of C$1.40 billion. As a group, analysts forecast that MEG Energy will post 2.3198041 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Derek Watson Evans sold 234,562 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of C$28.94, for a total transaction of C$6,788,247.74. In other MEG Energy news, Senior Officer Erik Alexander Alson sold 34,528 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$30.24, for a total value of C$1,044,126.72. Also, Director Derek Watson Evans sold 234,562 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of C$28.94, for a total value of C$6,788,247.74. Insiders have sold 301,679 shares of company stock worth $8,825,336 over the last ninety days. 0.63% of the stock is 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.