MEG Energy Corp (TSE:MEG) had its price target cut by CIBC from C$8.00 to C$4.50 in a research report report published on Thursday morning.
MEG has been the subject of several other research reports. TD Securities reissued a hold rating and issued a C$8.50 price target on shares of MEG Energy Corp in a research note on Friday, March 24th. National Bank Financial reissued a sector perform rating and issued a C$4.75 price target on shares of MEG Energy Corp in a research note on Tuesday, June 27th. Finally, GMP Securities cut MEG Energy Corp from a buy rating to a hold rating and decreased their price target for the company from C$8.50 to C$4.00 in a research note on Wednesday, June 28th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of C$7.48.
MEG Energy Corp (TSE:MEG) traded down 2.10% during trading on Thursday, hitting $4.19. The stock had a trading volume of 782,569 shares. The company’s market cap is $1.23 billion. MEG Energy Corp has a 52 week low of $3.28 and a 52 week high of $9.83. The company has a 50-day moving average of $4.10 and a 200 day moving average of $6.08.
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In related news, insider Eric Lloyd Toews purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was bought at an average price of C$4.60 per share, with a total value of C$46,000.00.
About MEG Energy Corp
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.
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