MEG Energy Corp (TSE:MEG) had its price objective hoisted by equities research analysts at TD Securities from C$5.50 to C$6.00 in a research note issued to investors on Friday. The firm currently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 11.73% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. CIBC dropped their target price on MEG Energy Corp from C$8.00 to C$4.50 in a report on Thursday, July 20th. National Bank Financial reissued a “sector perform” rating and set a C$4.75 target price on shares of MEG Energy Corp in a report on Tuesday, June 27th. Finally, GMP Securities cut MEG Energy Corp from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$8.50 to C$4.00 in a report 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 company presently has an average rating of “Hold” and an average target price of C$7.23.
MEG Energy Corp (MEG) opened at 5.37 on Friday. The stock’s market capitalization is $1.56 billion. MEG Energy Corp has a 52 week low of $3.28 and a 52 week high of $9.83. The stock’s 50 day moving average price is $4.07 and its 200-day moving average price is $5.90.
MEG Energy Corp (TSE:MEG) last released its quarterly earnings results on Thursday, July 27th. The company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.05. The company had revenue of $574.03 million for the quarter. MEG Energy Corp had a return on equity of 0.18% and a net margin of 0.28%. Equities research analysts expect that MEG Energy Corp will post ($0.54) earnings per share for the current year.
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In other news, insider Eric Lloyd Toews bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were purchased 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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