MEG Energy Corp. (TSE:MEG) Receives Consensus Rating of “Moderate Buy” from Analysts

MEG Energy Corp. (TSE:MEG) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$32.27.

MEG has been the subject of a number of research reports. Jefferies Financial Group lowered their price objective on 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. National Bankshares lowered their price objective on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Scotiabank upgraded MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective for the company in a research report on Wednesday, September 25th. BMO Capital Markets lowered their price objective on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Finally, Royal Bank of Canada decreased their target price on MEG Energy from C$39.00 to C$35.00 in a research report on Tuesday, September 17th.

Insider Transactions at MEG Energy

In related news, Director James D. Mcfarland acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were bought at an average price of C$26.94 per share, for a total transaction of C$134,700.00. In related news, Director James D. Mcfarland acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were bought at an average price of C$26.94 per share, for a total transaction of C$134,700.00. Also, Director Michael Mcallister purchased 7,400 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of C$25.67 per share, for a total transaction of C$189,986.86. Company insiders own 0.33% of the company’s stock.

MEG Energy Stock Performance

MEG Energy stock opened at C$26.17 on Thursday. The stock has a 50-day simple moving average of C$26.35 and a 200 day simple moving average of C$28.55. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. MEG Energy has a 12-month low of C$22.79 and a 12-month high of C$33.70. The stock has a market capitalization of C$7.05 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 0.17 and a beta of 2.89.

MEG Energy (TSE:MEG) last released its quarterly earnings results on Thursday, July 25th. The company reported C$0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.17. MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The business had revenue of C$2.74 billion during the quarter, compared to analysts’ expectations of C$1.28 billion. On average, research analysts anticipate that MEG Energy will post 2.2734628 earnings per share for the current fiscal year.

MEG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, September 17th. MEG Energy’s dividend payout ratio is currently 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.