MEG Energy Corp. (TSE:MEG) Receives Average Recommendation of “Hold” from Analysts

Shares of MEG Energy Corp. (TSE:MEG) have earned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$33.09.

Several brokerages have commented on MEG. Jefferies Financial Group dropped their target price on shares of MEG Energy from C$32.00 to C$26.00 and set a “hold” rating for the company in a research report on Monday, September 16th. Raymond James set a C$28.00 price objective on MEG Energy and gave the company a “market perform” rating in a report on Wednesday, May 29th. Royal Bank of Canada reduced their target price on MEG Energy from C$39.00 to C$35.00 in a report on Tuesday, September 17th. Scotiabank upped their price target on MEG Energy from C$34.00 to C$35.00 in a research note on Friday, July 12th. Finally, TD Securities upgraded shares of MEG Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 7th.

Insider Buying and Selling

In other news, Director James D. Mcfarland purchased 5,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were purchased at an average price of C$26.94 per share, with a total value of C$134,700.00. In other news, Director James D. Mcfarland purchased 5,000 shares of MEG Energy stock in a transaction on Friday, August 30th. The stock was purchased at an average price of C$26.94 per share, with a total value of C$134,700.00. Also, Director Michael Mcallister purchased 7,400 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$25.67 per share, with a total value of C$189,986.86. 0.33% of the stock is currently owned by company insiders.

MEG Energy Price Performance

Shares of MEG stock opened at C$25.71 on Friday. The firm has a market cap of C$6.93 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.17 and a beta of 2.92. MEG Energy has a 12 month low of C$22.79 and a 12 month high of C$33.70. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. The stock has a 50-day moving average price of C$26.79 and a 200 day moving average price of C$28.98.

MEG Energy (TSE:MEG) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.86 EPS for the quarter, topping the consensus estimate of C$0.69 by C$0.17. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The company had revenue of C$2.74 billion during the quarter, compared to analysts’ expectations of C$1.28 billion. Research analysts expect that MEG Energy will post 2.7951669 EPS for the current year.

MEG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, September 17th. MEG Energy’s dividend payout ratio is 19.05%.

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.