S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
China July exports rise, with trade surplus at record-high
Shift in war's front seen as ships cleared to leave Ukraine
What's in Democrats' big bill? Climate, health care, savings
Demand for grocery delivery cools as food costs rise
Transit woes mount for Boston's beleaguered subway riders
Dems push Biden climate, health priorities toward Senate OK
What to Expect from the Markets in a Recession
S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
China July exports rise, with trade surplus at record-high
Shift in war's front seen as ships cleared to leave Ukraine
What's in Democrats' big bill? Climate, health care, savings
Demand for grocery delivery cools as food costs rise
Transit woes mount for Boston's beleaguered subway riders
Dems push Biden climate, health priorities toward Senate OK
What to Expect from the Markets in a Recession
S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
China July exports rise, with trade surplus at record-high
Shift in war's front seen as ships cleared to leave Ukraine
What's in Democrats' big bill? Climate, health care, savings
Demand for grocery delivery cools as food costs rise
Transit woes mount for Boston's beleaguered subway riders
Dems push Biden climate, health priorities toward Senate OK
What to Expect from the Markets in a Recession
S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
China July exports rise, with trade surplus at record-high
Shift in war's front seen as ships cleared to leave Ukraine
What's in Democrats' big bill? Climate, health care, savings
Demand for grocery delivery cools as food costs rise
Transit woes mount for Boston's beleaguered subway riders
Dems push Biden climate, health priorities toward Senate OK
What to Expect from the Markets in a Recession
TSE:MEG

MEG Energy - MEG Stock Forecast, Price & News

C$15.27
+0.35 (+2.35%)
(As of 08/5/2022 08:50 PM ET)
Add
Compare
Today's Range
C$14.61
C$15.57
50-Day Range
C$14.92
C$24.25
52-Week Range
C$6.85
C$24.47
Volume
2.55 million shs
Average Volume
2.93 million shs
Market Capitalization
C$4.65 billion
P/E Ratio
7.20
Dividend Yield
N/A
Price Target
C$21.41

MEG Energy MarketRank™ Forecast

Analyst Rating
Hold
2.31 Rating Score
Upside/​Downside
40.2% Upside
C$21.41 Price Target
Short Interest
N/A
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.81mentions of MEG Energy in the last 14 days
Based on 3 Articles This Week
Insider Trading
Selling Shares
C$5.08 M Sold Last Quarter
Proj. Earnings Growth
N/A

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.69 out of 5 stars

MEG stock logo

About MEG Energy (TSE:MEG) Stock

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The company owns a 100% interest in approximately 410 square miles of mineral leases. It also develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions. The company transports and sells thermal oil to refiners in North America and internationally. As of December 31, 2021, it had approximately 2.0 billion barrels of gross proved plus probable bitumen reserves at the Christina Lake Project. The company was incorporated in 1999 and is headquartered in Calgary, Canada.

MEG Energy Stock Up 2.3 %

Shares of TSE:MEG traded up C$0.35 on Friday, reaching C$15.27. The company had a trading volume of 2,552,405 shares, compared to its average volume of 2,933,068. MEG Energy has a twelve month low of C$6.85 and a twelve month high of C$24.47. The stock has a 50-day moving average price of C$18.83 and a 200 day moving average price of C$18.10. The stock has a market capitalization of C$4.65 billion and a P/E ratio of 7.20. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 52.55.

Analysts Set New Price Targets

Several brokerages have weighed in on MEG. BMO Capital Markets lifted their target price on MEG Energy from C$22.00 to C$25.00 in a research note on Tuesday, May 3rd. CIBC lifted their price target on MEG Energy from C$23.00 to C$26.00 and gave the company a "neutral" rating in a research report on Thursday, June 9th. The Goldman Sachs Group lowered their price target on MEG Energy to C$22.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 22nd. JPMorgan Chase & Co. lifted their price target on MEG Energy from C$24.00 to C$25.00 in a research report on Thursday, June 30th. Finally, Scotiabank cut MEG Energy from an "outperform" rating to a "hold" rating and lifted their target price for the stock from C$23.00 to C$26.00 in a report on Wednesday, June 8th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$21.41.

Insider Buying and Selling

In related news, Senior Officer Chi-Tak Yee sold 84,900 shares of the business's stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of C$21.30, for a total transaction of C$1,808,743.56. Following the transaction, the insider now directly owns 313,932 shares in the company, valued at C$6,688,132.90. In other news, Director James D. Mcfarland sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of C$24.04, for a total value of C$120,195.00. Following the transaction, the director now directly owns 4,009 shares of the company's stock, valued at approximately C$96,372.35. Also, Senior Officer Chi-Tak Yee sold 84,900 shares of the business's stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of C$21.30, for a total value of C$1,808,743.56. Following the completion of the transaction, the insider now directly owns 313,932 shares in the company, valued at C$6,688,132.90. In the last 90 days, insiders sold 182,300 shares of company stock valued at $3,730,739.

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MEG Stock News Headlines

MEG Energy (TSE:MEG) Trading Down 3.7%
MEG Energy (MEG) to Release Earnings on Thursday
MEG Energy (TSE:MEG) Stock Price Down 4.7%
Is the MEG Energy share price too low?
Stocks Continue Recovery
Gains Grow for TSX
Record Earnings: Should You Buy MEG Energy Now?
See More Headlines
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MEG Company Calendar

Last Earnings
7/27/2017
Today
8/08/2022
Next Earnings (Estimated)
11/14/2022

Industry, Sector and Symbol

Industry
Independent Oil & Gas
Sub-Industry
N/A
CIK
N/A
Fax
N/A
Employees
411
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
C$21.41
High Stock Price Forecast
C$30.00
Low Stock Price Forecast
C$13.00
Forecasted Upside/Downside
+40.2%
Consensus Rating
Hold
Rating Score (0-4)
2.31
Research Coverage
13 Analysts

Profitability

Pretax Margin
N/A

Debt

Sales & Book Value

Annual Sales
C$5.50 billion
Cash Flow
C$0.69 per share
Book Value
C$14.12 per share

Miscellaneous

Free Float
N/A
Market Cap
C$4.65 billion
Optionable
Not Optionable
Beta
N/A

Key Executives

  • Mr. Derek W. Evans B.Sc. (Age 65)
    P. Eng., Pres, CEO & Director
    Comp: $1.7M
  • Mr. Eric Lloyd Toews C.A.
    CPA, CA, CPA, Chief Financial Officer
  • Ms. Darlene M. Gates
    Chief Operating Officer
  • Mr. Chi-Tak Yee P.Eng.
    Chief Technology Officer
  • Mr. Lyle S. Yuzdepski
    Sr. VP of Legal, Gen. Counsel & Corp. Sec.
  • Ms. Helen Kelly MBA
    Director of Investor Relations
  • Mr. David Michael Granger
    VP HR













MEG Stock - Frequently Asked Questions

Should I buy or sell MEG Energy stock right now?

13 Wall Street analysts have issued "buy," "hold," and "sell" ratings for MEG Energy in the last year. There are currently 9 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" MEG Energy stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MEG, but not buy additional shares or sell existing shares.
View analyst ratings for MEG Energy
or view top-rated stocks.

What is MEG Energy's stock price forecast for 2022?

13 equities research analysts have issued 12-month target prices for MEG Energy's stock. Their MEG stock forecasts range from C$13.00 to C$30.00. On average, they expect MEG Energy's share price to reach C$21.41 in the next year. This suggests a possible upside of 40.2% from the stock's current price.
View analysts' price targets for MEG Energy
or view top-rated stocks among Wall Street analysts.

How has MEG Energy's stock price performed in 2022?

MEG Energy's stock was trading at C$11.70 on January 1st, 2022. Since then, MEG shares have increased by 30.5% and is now trading at C$15.27.
View the best growth stocks for 2022 here
.

When is MEG Energy's next earnings date?

MEG Energy is scheduled to release its next quarterly earnings announcement on Monday, November 14th 2022.
View our earnings forecast for MEG Energy
.

How were MEG Energy's earnings last quarter?

MEG Energy Corp. (TSE:MEG) announced its quarterly earnings data on Thursday, July, 27th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The firm had revenue of $574.03 million for the quarter.

What other stocks do shareholders of MEG Energy own?

What is MEG Energy's stock symbol?

MEG Energy trades on the Toronto Stock Exchange (TSX) under the ticker symbol "MEG."

How do I buy shares of MEG Energy?

Shares of MEG stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
Compare Top Brokerages Here.

What is MEG Energy's stock price today?

One share of MEG stock can currently be purchased for approximately C$15.27.

How much money does MEG Energy make?

MEG Energy (TSE:MEG) has a market capitalization of C$4.65 billion and generates C$5.50 billion in revenue each year.

How many employees does MEG Energy have?

MEG Energy employs 411 workers across the globe.

How can I contact MEG Energy?

MEG Energy's mailing address is 520 3 Ave SW 8th Floor, CALGARY, AB T2P 0R3, Canada. The official website for MEG Energy is www.megenergy.com. The company can be reached via phone at +1-403-7700446.

This page (TSE:MEG) was last updated on 8/8/2022 by MarketBeat.com Staff

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