MEG Energy Corp. (TSE:MEG) Receives Average Recommendation of “Moderate Buy” from Analysts

MEG Energy Corp. (TSE:MEG) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$32.00.

Several research firms recently weighed in on MEG. ATB Capital decreased their target price on shares of MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Royal Bank of Canada dropped their target price on shares of MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. TD Securities raised their target price on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. National Bankshares boosted their price target on MEG Energy from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Finally, Desjardins raised MEG Energy from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, January 28th.

Insiders Place Their Bets

In related news, Director Robert Ross Rooney bought 8,500 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of C$23.06 per share, with a total value of C$195,993.00. Also, Director Kimberley Elizabeth Lynch Proctor purchased 3,500 shares of the company’s stock in a transaction dated Thursday, November 28th. The stock was purchased at an average price of C$25.06 per share, with a total value of C$87,713.85. Insiders acquired 12,805 shares of company stock worth $303,669 over the last three months. Insiders own 0.33% of the company’s stock.

MEG Energy Price Performance

Shares of MEG opened at C$22.66 on Wednesday. The company has a 50 day moving average of C$23.57 and a 200-day moving average of C$25.10. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 22.80. The stock has a market capitalization of C$5.87 billion, a P/E ratio of 12.00, a P/E/G ratio of 0.17 and a beta of 2.89. MEG Energy has a twelve month low of C$22.02 and a twelve month high of C$33.70.

MEG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were paid a $0.10 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. MEG Energy’s dividend payout ratio (DPR) is 21.19%.

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.