MEG Energy Corp. (TSE:MEG) Given Consensus Recommendation of “Hold” by Analysts

MEG Energy Corp. (TSE:MEG) has been given an average recommendation of “Hold” by the eleven analysts that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$32.55.

Several research analysts recently issued reports on MEG shares. Scotiabank raised MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 target price on the stock in a research report on Wednesday, September 25th. National Bankshares cut their price objective on shares of MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. Royal Bank of Canada lowered their target price on shares of MEG Energy from C$35.00 to C$34.00 in a research note on Thursday, November 7th. Jefferies Financial Group cut their price target on shares of MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Finally, TD Securities lifted their price objective on shares of MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

MEG Energy Stock Performance

MEG stock opened at C$25.31 on Monday. MEG Energy has a one year low of C$22.79 and a one year high of C$33.70. The firm has a market cap of C$6.82 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.17 and a beta of 2.89. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54. The firm has a 50-day simple moving average of C$25.88 and a two-hundred day simple moving average of C$27.65.

MEG Energy (TSE:MEG) last announced its earnings results on Tuesday, November 5th. The company reported C$0.62 earnings per share for the quarter, missing the consensus estimate of C$0.63 by C($0.01). The firm had revenue of C$1.27 billion during the quarter, compared to analyst estimates of C$1.33 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. On average, equities analysts forecast that MEG Energy will post 2.2734628 EPS for the current fiscal year.

MEG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.58%. MEG Energy’s payout ratio is currently 19.05%.

Insider Activity

In other news, Director Michael Mcallister purchased 7,400 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of C$25.67 per share, for a total transaction of C$189,986.86. Also, Director James D. Mcfarland acquired 5,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was purchased at an average price of C$26.94 per share, with a total value of C$134,700.00. Insiders own 0.33% of the company’s stock.

About MEG Energy

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.