MEG Energy (TSE:MEG) PT Raised to C$37.00 at National Bankshares

MEG Energy (TSE:MEG - Free Report) had its price objective hoisted by National Bankshares from C$32.00 to C$37.00 in a report published on Friday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other research analysts have also commented on the stock. BMO Capital Markets boosted their price objective on shares of MEG Energy from C$35.00 to C$37.00 in a research note on Thursday, March 28th. CIBC boosted their price objective on shares of MEG Energy from C$26.00 to C$30.00 and gave the stock a neutral rating in a research note on Friday, March 22nd. Jefferies Financial Group boosted their price objective on shares of MEG Energy from C$28.00 to C$35.00 and gave the stock a hold rating in a research note on Friday, April 12th. ATB Capital boosted their target price on shares of MEG Energy from C$32.00 to C$35.00 and gave the stock an outperform rating in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MEG Energy from C$33.00 to C$34.00 in a research report on Tuesday, March 12th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of C$32.73.

MEG Energy Stock Down 0.4 %

Shares of TSE:MEG traded down C$0.11 during trading hours on Friday, hitting C$31.16. The company's stock had a trading volume of 1,660,306 shares, compared to its average volume of 1,854,379. MEG Energy has a 52 week low of C$19.41 and a 52 week high of C$33.70. The company has a debt-to-equity ratio of 30.55, a current ratio of 1.48 and a quick ratio of 1.17. The company has a market capitalization of C$8.48 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 0.17 and a beta of 3.16. The firm's fifty day moving average price is C$29.47 and its 200 day moving average price is C$26.67.

MEG Energy (TSE:MEG - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing the consensus estimate of C$0.59 by C($0.22). The firm had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.40 billion. MEG Energy had a return on equity of 12.77% and a net margin of 10.06%. As a group, research analysts expect that MEG Energy will post 2.3198041 EPS for the current year.

Insider Activity

In other news, Director Derek Watson Evans sold 234,562 shares of the company's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of C$28.94, for a total value of C$6,788,247.74. In related news, Senior Officer Erik Alexander Alson sold 34,528 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$30.24, for a total transaction of C$1,044,126.72. Also, Director Derek Watson Evans sold 234,562 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of C$28.94, for a total transaction of C$6,788,247.74. Insiders have sold 301,679 shares of company stock valued at $8,825,336 in the last ninety days. Insiders own 0.63% 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.