Erik Alexander Alson Sells 32,728 Shares of MEG Energy Corp. (TSE:MEG) Stock

MEG Energy Corp. (TSE:MEG) Senior Officer Erik Alexander Alson sold 32,728 shares of the firm’s stock in a transaction that occurred on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$791,690.32.

MEG Energy Stock Down 0.6 %

MEG stock opened at C$24.83 on Friday. MEG Energy Corp. has a fifty-two week low of C$19.77 and a fifty-two week high of C$33.70. The company has a market capitalization of C$6.44 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The business’s 50 day moving average price is C$23.41 and its two-hundred day moving average price is C$24.54. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55.

MEG Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 1.61%. MEG Energy’s payout ratio is 21.19%.

Analysts Set New Price Targets

Several brokerages have weighed in on MEG. ATB Capital dropped their price target on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Desjardins cut MEG Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from C$29.00 to C$26.50 in a research note on Wednesday. National Bankshares boosted their price target on MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a report on Thursday, January 30th. Royal Bank of Canada dropped their price objective on MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. Finally, TD Securities reduced their target price on MEG Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, MEG Energy has a consensus rating of “Hold” and a consensus price target of C$30.95.

About MEG Energy

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.