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S&P 500   3,323.22 (-0.14%)
DOW   27,199.51 (+-0.01%)
QQQ   270.71 (-0.13%)
TSLA   1,485.00 (+0.00%)
BA   173.30 (-0.56%)
S&P 500   3,323.22 (-0.14%)
DOW   27,199.51 (+-0.01%)
QQQ   270.71 (-0.13%)
TSLA   1,485.00 (+0.00%)
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MEG Energy (TSE:MEG) Rating Lowered to Hold at Stifel Firstegy

Last updated on Saturday, August 1, 2020 | 2020 MarketBeat

MEG Energy (TSE:MEG) was downgraded by investment analysts at Stifel Firstegy from a "buy" rating to a "hold" rating in a report issued on Wednesday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. TD Securities increased their price target on shares of MEG Energy from C$3.75 to C$4.50 and gave the stock a "hold" rating in a report on Tuesday. Tudor Pickering & Holt set a C$4.00 price target on shares of MEG Energy and gave the stock a "hold" rating in a report on Tuesday. Royal Bank of Canada increased their price target on shares of MEG Energy from C$3.00 to C$4.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 6th. National Bank Financial upped their price objective on shares of MEG Energy from C$3.50 to C$4.50 and gave the stock an "outperform" rating in a research report on Wednesday, June 24th. Finally, CSFB upped their price objective on shares of MEG Energy from C$3.00 to C$3.50 in a research report on Monday, May 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of "Hold" and a consensus target price of C$5.02.

Shares of MEG Energy stock traded down C$0.12 on Wednesday, reaching C$3.54. The stock had a trading volume of 3,043,727 shares, compared to its average volume of 4,430,506. MEG Energy has a 1 year low of C$1.13 and a 1 year high of C$8.07. The company has a market cap of $1.07 billion and a P/E ratio of -3.53. The company has a current ratio of 1.94, a quick ratio of 0.73 and a debt-to-equity ratio of 97.41. The business's 50 day moving average is C$3.75 and its two-hundred day moving average is C$4.24.

MEG Energy (TSE:MEG) last announced its quarterly earnings results on Monday, May 4th. The company reported C($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C($0.09) by C($0.08). The firm had revenue of C$665.00 million for the quarter, compared to analysts' expectations of C$545.05 million. On average, equities analysts anticipate that MEG Energy will post -0.9036549 EPS for the current fiscal year.

MEG Energy Company Profile

MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta.

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Analyst Recommendations for MEG Energy (TSE:MEG)

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