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TSE:MEG

MEG Energy - MEG Stock Forecast, Price & News

C$17.07
-0.39 (-2.23%)
(As of 08/12/2022 10:27 AM ET)
Add
Compare
Today's Range
C$16.99
C$17.40
50-Day Range
C$14.92
C$24.25
52-Week Range
C$6.85
C$24.47
Volume
312,086 shs
Average Volume
2.90 million shs
Market Capitalization
C$5.20 billion
P/E Ratio
6.39
Dividend Yield
N/A
Price Target
C$21.41

MEG Energy MarketRank™ Forecast

Analyst Rating
Hold
2.31 Rating Score
Upside/​Downside
25.4% Upside
C$21.41 Price Target
Short Interest
N/A
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.87mentions of MEG Energy in the last 14 days
Based on 3 Articles This Week
Insider Trading
Selling Shares
C$1.93 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 Price Performance

Shares of MEG Energy stock traded up C$0.76 during trading hours on Thursday, reaching C$17.46. The company's stock had a trading volume of 2,772,796 shares, compared to its average volume of 2,920,174. The firm has a 50 day moving average price of C$18.36 and a 200-day moving average price of C$18.14. The company has a debt-to-equity ratio of 52.55, a current ratio of 1.61 and a quick ratio of 1.09. The stock has a market cap of C$5.32 billion and a P/E ratio of 6.54. MEG Energy has a one year low of C$6.85 and a one year high of C$24.47.

Analyst Upgrades and Downgrades

MEG has been the topic of a number of recent analyst reports. CIBC raised their price target on MEG Energy from C$23.00 to C$26.00 and gave the company a "neutral" rating in a report on Thursday, June 9th. Royal Bank of Canada boosted their price target on MEG Energy from C$21.00 to C$22.00 and gave the stock an "outperform" rating in a report on Wednesday, May 4th. BMO Capital Markets increased their price objective on shares of MEG Energy from C$22.00 to C$25.00 in a report on Tuesday, May 3rd. National Bankshares lowered their target price on shares of MEG Energy from C$31.00 to C$30.00 and set an "outperform" rating on the stock in a report on Monday, July 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of MEG Energy from C$24.00 to C$25.00 in a research report on Thursday, June 30th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, MEG Energy presently has an average rating of "Hold" and an average price target of C$21.41.

Insider Buying and Selling

In other MEG Energy news, Director James D. Mcfarland sold 5,000 shares of the company'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 transaction of C$120,195.00. Following the sale, the director now directly owns 4,009 shares in the company, valued at C$96,372.35. In other MEG Energy news, Director James D. Mcfarland sold 5,000 shares of MEG Energy stock in a transaction on Thursday, June 9th. The shares were sold at an average price of C$24.04, for a total transaction of C$120,195.00. Following the completion of the transaction, the director now directly owns 4,009 shares of the company's stock, valued at C$96,372.35. Also, Senior Officer Chi-Tak Yee sold 84,900 shares of the business's stock in a transaction on Tuesday, May 24th. The shares were 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 owns 313,932 shares in the company, valued at approximately C$6,688,132.90.

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MEG Stock News Headlines

MEG Energy (TSE:MEG) Trading Down 3.7%
Investor Alert: EV Initiatives Create Unsustainable Demand For Lithium
The soaring demand for lithium is driven by worldwide demand for electric vehicles (EVs). Lithium is ideal for electric cars. It's lightweight, stores lots of energy and is rechargeable. Sales of EVs are expected to increase 10-fold by 2030 and estimates are that 1 in 2 cars sold will be electric by 2040.
MEG Energy (MEG) to Release Earnings on Thursday
MEG Energy (TSE:MEG) Stock Price Down 4.7%
Russia Ignites West's Battle for Energy Independence
Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. Western countries are now scrambling for stable, renewable energy. World leaders must find new sources of minerals, such as copper, essential to their transition to energy independence.
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
8/12/2022
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
+25.4%
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$0.86 per share
Book Value
C$14.12 per share

Miscellaneous

Free Float
N/A
Market Cap
C$5.20 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 equities research analysts have issued "buy," "hold," and "sell" ratings for MEG Energy in the last twelve months. There are currently 9 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" MEG shares. 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 MEG analyst ratings
or view top-rated stocks.

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

13 Wall Street research analysts have issued 12 month price objectives for MEG Energy's stock. Their MEG share price forecasts range from C$13.00 to C$30.00. On average, they predict the company's share price to reach C$21.41 in the next twelve months. This suggests a possible upside of 22.6% from the stock's current price.
View analysts price targets for MEG
or view top-rated stocks among Wall Street analysts.

How have MEG shares performed in 2022?

MEG Energy's stock was trading at C$11.70 at the beginning of the year. Since then, MEG shares have increased by 49.2% and is now trading at C$17.46.
View the best growth stocks for 2022 here
.

When is MEG Energy's next earnings date?

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

How were MEG Energy's earnings last quarter?

MEG Energy Corp. (TSE:MEG) released its quarterly earnings data on Thursday, July, 27th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.05. The company earned $574.03 million during 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$17.46.

How much money does MEG Energy make?

MEG Energy (TSE:MEG) has a market capitalization of C$5.32 billion and generates C$5.50 billion in revenue each year.

How many employees does MEG Energy have?

The company 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 the company is www.megenergy.com. The company can be reached via phone at +1-403-7700446.

This page (TSE:MEG) was last updated on 8/12/2022 by MarketBeat.com Staff

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