MEG Energy (OTCMKTS:MEGEF) Stock Price Passes Below 50-Day Moving Average – Here’s Why

MEG Energy Corp. (OTCMKTS:MEGEF)’s share price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $15.68 and traded as low as $14.55. MEG Energy shares last traded at $14.57, with a volume of 201,994 shares traded.

Analyst Upgrades and Downgrades

Separately, National Bankshares restated a “sector perform” rating on shares of MEG Energy in a report on Friday.

MEG Energy Trading Down 1.2 %

The firm’s fifty day moving average is $15.68 and its two-hundred day moving average is $16.73.

MEG Energy Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 21st were paid a $0.0693 dividend. This represents a yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th.

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.