Should I buy or sell MEG Energy stock right now?

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for MEG Energy in the last year. There are currently 7 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street 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 target for 2024?

10 equities research analysts have issued twelve-month price objectives for MEG Energy's stock. Their MEG share price targets range from C$23.00 to C$39.00. On average, they predict the company's stock price to reach C$32.27 in the next year. This suggests a possible upside of 2.5% 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 2024?

MEG Energy's stock was trading at C$23.67 at the start of the year. Since then, MEG stock has increased by 33.1% and is now trading at C$31.50. View the best growth stocks for 2024 here .

When is MEG Energy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, May 6th 2024. View our MEG earnings forecast .

How were MEG Energy's earnings last quarter?

MEG Energy Corp. (TSE:MEG) announced its quarterly earnings results on Thursday, February, 29th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.59 by $0.22. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.40 billion. MEG Energy had a trailing twelve-month return on equity of 12.77% and a net margin of 10.06%.

What other stocks do shareholders of MEG Energy own?

Based on aggregate information from My MarketBeat watchlists, some companies that other MEG Energy investors own include Whitecap Resources (WCP) , Baytex Energy (BTE) , Crescent Point Energy (CPG) , Kelt Exploration (KEL) , Athabasca Oil (ATH) , NuVista Energy (NVA) , Canadian Natural Resources (CNQ) , Enerplus (ERF) , Cenovus Energy (CVE) and Birchcliff Energy (BIR) .

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 .

TSE:MEG

MEG Energy (MEG) Stock Price, News & Analysis

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C$31.50

+0.23 (+0.74%)

(As of 11:38 AM ET)

Compare

Today's Range: C$31.38
▼
C$31.75
50-Day Range: C$23.92
▼
C$33.43
52-Week Range: C$19.41
▼
C$33.70

Volume: 297,127 shs
Average Volume: 1.84 million shs
Market Capitalization: C$8.57 billion

P/E Ratio: 15.91
Dividend Yield: 3.14%
Price Target: C$32.27

Stock Analysis Analyst Forecasts Chart Competitors Earnings Headlines Insider Trades

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MEG Energy MarketRank™ Stock Analysis

Analyst Rating: Hold
2.30 Rating Score
Upside/Downside: 2.5% Upside
C$32.27 Price Target
Short Interest: N/A
Dividend Strength: Weak
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.45
Based on 7 Articles This Week
Insider Trading: Selling Shares
C$8.83 M Sold Last Quarter
Proj. Earnings Growth: N/A

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

2.06 out of 5 stars

2.2

Analyst's Opinion

Consensus Rating
MEG Energy has received a consensus rating of Hold. The company's average rating score is 2.30, and is based on 3 buy ratings, 7 hold ratings, and no sell ratings.
Amount of Analyst Coverage
MEG Energy has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

N/A

Short Interest

Short Interest
There is no current short interest data available for MEG.

0.8

Dividend Strength

Dividend Yield
MEG Energy pays a meaningful dividend of 3.14%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
MEG Energy does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for MEG.

2.5

News and Social Media Coverage

News Sentiment
MEG Energy has a news sentiment score of 0.45. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Energy companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for MEG Energy this week, compared to 3 articles on an average week.
Search Interest
6 people have searched for MEG on MarketBeat in the last 30 days. This is an increase of 100% compared to the previous 30 days.
MarketBeat Follows
Only 2 people have added MEG Energy to their MarketBeat watchlist in the last 30 days. This is a decrease of -71% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, MEG Energy insiders have sold more of their company's stock than they have bought. Specifically, they have bought C$0.00 in company stock and sold C$8,825,336.00 in company stock.
Percentage Held by Insiders
Only 0.63% of the stock of MEG Energy is held by insiders.
Percentage Held by Institutions
41.96% of the stock of MEG Energy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Price to Earnings Ratio vs. the Market
The P/E ratio of MEG Energy is 15.91, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 136.77.
Price to Earnings Ratio vs. Sector
The P/E ratio of MEG Energy is 15.91, which means that it is trading at a less expensive P/E ratio than the Energy sector average P/E ratio of about 97.47.
Price to Earnings Growth Ratio
MEG Energy has a PEG Ratio of 0.17. PEG Ratios below 1 indicate that a company could be undervalued.
Price to Book Value per Share Ratio
MEG Energy has a P/B Ratio of 1.91. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About MEG Energy Stock (TSE:MEG)

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. It also transports and sells thermal oil in North America and internationally. The company was incorporated in 1999 and is headquartered in Calgary, Canada.

MEG Stock Price History

30 days | 90 days | 365 days | Advanced Chart

MEG Stock News Headlines

March 23, 2024 | insidertrades.com

David Michael Granger Sells 32,144 Shares of MEG Energy Corp. (TSE:MEG) Stock

March 21, 2024 | insidertrades.com

MEG Energy Corp. (TSE:MEG) Director Gary Bosgoed Sells 445 Shares

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Analysts Offer Insights on Energy Companies: Pembina Pipeline (PBA) and MEG Energy (OtherMEGEF)

April 14, 2024 | americanbankingnews.com

Jefferies Financial Group Increases MEG Energy (TSE:MEG) Price Target to C$35.00

April 13, 2024 | morningstar.com

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MEG Energy (TSE:MEG) Hits New 1-Year High Following Analyst Upgrade

April 10, 2024 | americanbankingnews.com

MEG Energy (TSE:MEG) Price Target Increased to C$39.00 by Analysts at Royal Bank of Canada

April 4, 2024 | finance.yahoo.com

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Company Calendar

Last Earnings: 2/29/2024
Today: 4/18/2024
Next Earnings (Confirmed): 5/06/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: TSE
Sector: Energy
Industry: Oil & Gas E&P
Sub-Industry: N/A
Current Symbol: TSE:MEG
CUSIP: N/A
CIK: N/A
Web: www.megenergy.com
Phone: +1-403-7700446
Fax: N/A
Employees: 449
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: C$32.27
High Stock Price Target: C$39.00
Low Stock Price Target: C$23.00
Potential Upside/Downside: +3.2%
Consensus Rating: Hold
Rating Score (0-4): 2.30
Research Coverage: 10 Analysts

Profitability

EPS (Most Recent Fiscal Year): C$1.98
Trailing P/E Ratio: 15.79
Forward P/E Ratio: 13.48
P/E Growth: 0.17
Net Income: C$569 million
Net Margins: 10.06%
Pretax Margin: N/A
Return on Equity: 12.77%
Return on Assets: 7.94%

Debt

Debt-to-Equity Ratio: 30.55
Current Ratio: 1.48
Quick Ratio: 1.17

Sales & Book Value

Annual Sales: C$5.65 billion
Price / Sales: 1.51
Cash Flow: C$1.06 per share
Price / Cash Flow: 29.38
Book Value: C$16.48 per share
Price / Book: 1.90

Miscellaneous

Outstanding Shares: 272,100,000
Free Float: N/A
Market Cap: C$8.51 billion
Optionable: Not Optionable
Beta: 3.16

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Key Executives

Mr. Derek W. Evans B.Sc. (Age 67)
P. Eng., President, CEO & Director
Comp: $1.59M
Ms. Darlene M. Gates
Chief Operating Officer
Mr. Lyle S. Yuzdepski
Senior VP of Legal, General Counsel & Corporate Secretary
Mr. Thomas R. Gear
Vice President of Operations
Mr. David Michael Granger
Senior Vice President of Human Resources

Key Competitors

View All Competitors

Insiders

View All Insider Transactions

MEG Stock Analysis - Frequently Asked Questions

Should I buy or sell MEG Energy stock right now?: 10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for MEG Energy in the last year. There are currently 7 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street 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 target for 2024?: 10 equities research analysts have issued twelve-month price objectives for MEG Energy's stock. Their MEG share price targets range from C$23.00 to C$39.00. On average, they predict the company's stock price to reach C$32.27 in the next year. This suggests a possible upside of 2.5% 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 2024?: MEG Energy's stock was trading at C$23.67 at the start of the year. Since then, MEG stock has increased by 33.1% and is now trading at C$31.50.
View the best growth stocks for 2024 here.
When is MEG Energy's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, May 6th 2024.
View our MEG earnings forecast.

How were MEG Energy's earnings last quarter?: MEG Energy Corp. (TSE:MEG) announced its quarterly earnings results on Thursday, February, 29th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.59 by $0.22. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.40 billion. MEG Energy had a trailing twelve-month return on equity of 12.77% and a net margin of 10.06%.
What other stocks do shareholders of MEG Energy own?: Based on aggregate information from My MarketBeat watchlists, some companies that other MEG Energy investors own include Whitecap Resources (WCP), Baytex Energy (BTE), Crescent Point Energy (CPG), Kelt Exploration (KEL), Athabasca Oil (ATH), NuVista Energy (NVA), Canadian Natural Resources (CNQ), Enerplus (ERF), Cenovus Energy (CVE) and Birchcliff Energy (BIR).
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.

This page (TSE:MEG) was last updated on 4/19/2024 by MarketBeat.com Staff

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MEG Energy (MEG) Stock Price, News & Analysis

MEG Energy MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Short Interest

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About MEG Energy Stock (TSE:MEG)

MEG Stock Price History

MEG Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders

MEG Stock Analysis - Frequently Asked Questions

Overall MarketRank^™