MEG Energy Corp. (OTCMKTS:MEGEF – Get Free Report) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $21.96 and traded as low as $21.96. MEG Energy shares last traded at $21.96, with a volume of 22,880 shares trading hands.
Analyst Upgrades and Downgrades
Separately, TD Securities lowered shares of MEG Energy to a “sell” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.
Read Our Latest Research Report on MEG Energy
MEG Energy Trading Up 0.0%
About MEG Energy
MEG Energy is an independent Canadian oil sands company headquartered in Calgary, Alberta. The company’s principal operations center on the development and production of bitumen through steam-assisted gravity drainage (SAGD) technology. MEG Energy’s flagship asset is the Christina Lake project in northeast Alberta, where it produces and upgrades bitumen into synthetic crude oil for sale to North American refineries.
Christina Lake is developed in multiple phases, each designed to optimize thermal efficiency and maintain strong environmental controls.
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