MEG Energy (TSE:MEG) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

MEG Energy Corp. (TSE:MEG) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$30.89 and traded as low as C$30.49. MEG Energy shares last traded at C$30.89, with a volume of 6,350,674 shares.

MEG Energy Stock Up 0.7%

The company has a market capitalization of C$7.86 billion, a PE ratio of 14.64, a P/E/G ratio of 0.17 and a beta of 0.45. The stock’s fifty day moving average is C$30.89 and its two-hundred day moving average is C$30.89. The company has a current ratio of 1.73, a quick ratio of 1.17 and a debt-to-equity ratio of 22.34.

MEG Energy Company Profile

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.