MEG Energy Corp. (TSE:MEG) Given Consensus Recommendation of “Moderate Buy” by Analysts

MEG Energy Corp. (TSE:MEG) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$32.00.

A number of brokerages have issued reports on MEG. ATB Capital decreased their price target on MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Desjardins raised MEG Energy from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, January 28th. TD Securities raised their price target on MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. National Bankshares lifted their price objective on MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reduced their price objective on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th.

MEG Energy Stock Up 1.2 %

MEG opened at C$23.26 on Wednesday. The business’s fifty day simple moving average is C$23.60 and its 200 day simple moving average is C$25.22. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 22.80. MEG Energy has a 52 week low of C$22.02 and a 52 week high of C$33.70. The firm has a market cap of C$6.03 billion, a P/E ratio of 12.32, a PEG ratio of 0.17 and a beta of 2.89.

MEG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Monday, December 16th. MEG Energy’s payout ratio is 21.19%.

Insider Buying and Selling at MEG Energy

In related news, Director Kimberley Elizabeth Lynch Proctor purchased 3,500 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average price of C$25.06 per share, for a total transaction of C$87,713.85. Also, Director Robert Ross Rooney purchased 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average price of C$23.06 per share, with a total value of C$195,993.00. Insiders bought a total of 12,805 shares of company stock valued at $303,669 in the last ninety days. Insiders own 0.33% of the company’s stock.

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.