MEG Energy Corp. (TSE:MEG) Director Darlene Miriam Gates Sells 91,584 Shares

MEG Energy Corp. (TSE:MEG) Director Darlene Miriam Gates sold 91,584 shares of the stock in a transaction dated Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$2,215,416.96.

MEG Energy Trading Up 1.5 %

TSE:MEG opened at C$24.97 on Thursday. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. The firm has a market cap of C$6.47 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. MEG Energy Corp. has a 52 week low of C$19.77 and a 52 week high of C$33.70. The firm has a 50-day moving average price of C$23.41 and a two-hundred day moving average price of C$24.55.

MEG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.60%. MEG Energy’s payout ratio is currently 21.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MEG shares. Desjardins lowered shares of MEG Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$29.00 to C$26.50 in a report on Wednesday. TD Securities lowered their target price on shares of MEG Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a report on Friday, February 28th. National Bankshares upped their target price on shares of MEG Energy from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Royal Bank of Canada lowered their target price on shares of MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. Finally, ATB Capital lowered their target price on shares of MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MEG Energy presently has an average rating of “Hold” and a consensus target price of C$30.95.

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.