MEG Energy Corp. (TSE:MEG) Announces $0.10 Quarterly Dividend

MEG Energy Corp. (TSE:MEG - Get Free Report) announced a quarterly dividend on Monday, June 16th, TickerTech Dividends reports. Stockholders of record on Tuesday, July 15th will be paid a dividend of 0.10 per share on Tuesday, July 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, June 16th.

MEG Energy Trading Up 0.8%

TSE MEG traded up C$0.22 during trading hours on Tuesday, hitting C$26.66. The company's stock had a trading volume of 1,313,822 shares, compared to its average volume of 2,388,110. MEG Energy has a twelve month low of C$17.00 and a twelve month high of C$29.94. The firm has a market capitalization of C$6.91 billion, a P/E ratio of 14.12, a PEG ratio of 0.17 and a beta of 2.89. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 22.80. The stock has a fifty day moving average of C$22.45 and a 200 day moving average of C$23.12.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MEG shares. Desjardins cut MEG Energy from a "buy" rating to a "hold" rating and lowered their price target for the company from C$29.00 to C$26.50 in a research note on Wednesday, March 19th. CIBC lowered their target price on shares of MEG Energy from C$32.00 to C$28.00 in a research note on Thursday, April 10th. Scotiabank raised shares of MEG Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, TD Securities decreased their price target on shares of MEG Energy from C$33.00 to C$32.00 and set a "buy" rating for the company in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$30.61.

MEG Energy Company Profile

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.