Shares of MEG Energy Corp. (TSE:MEG - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$30.35.
A number of equities analysts have weighed in on MEG shares. TD Securities cut their price target on shares of MEG Energy from C$33.00 to C$32.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Desjardins downgraded shares of MEG Energy from a "buy" rating to a "hold" rating and decreased their price objective for the stock from C$29.00 to C$26.50 in a research note on Wednesday, March 19th. Royal Bank of Canada dropped their price objective on shares of MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. National Bankshares lifted their target price on shares of MEG Energy from C$27.00 to C$28.00 and gave the company a "sector perform" rating in a report on Thursday, January 30th. Finally, Scotiabank upgraded MEG Energy to a "strong-buy" rating in a report on Wednesday, March 19th.
Check Out Our Latest Stock Analysis on MEG Energy
Insider Transactions at MEG Energy
In other MEG Energy news, Senior Officer Erik Alexander Alson sold 32,728 shares of the firm's stock in a transaction on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total value of C$791,690.32. Also, Director Darlene Miriam Gates sold 91,584 shares of the company's stock in a transaction dated Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$2,215,416.96. Insiders own 0.33% of the company's stock.
MEG Energy Trading Up 0.4 %
MEG Energy stock traded up C$0.08 during trading on Monday, hitting C$20.89. The company's stock had a trading volume of 313,409 shares, compared to its average volume of 2,528,987. The stock has a market capitalization of C$5.41 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.17 and a beta of 2.89. MEG Energy has a 1-year low of C$17.00 and a 1-year high of C$31.71. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. The stock's fifty day moving average is C$21.84 and its 200 day moving average is C$23.41.
MEG Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.91%. MEG Energy's dividend payout ratio (DPR) is 21.19%.
About MEG Energy
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Get Free ReportMEG 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.
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