MEG Energy Corp. (TSE:MEG) Senior Officer Sells C$791,690.32 in Stock

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

MEG Energy Stock Up 1.3 %

Shares of MEG stock traded up C$0.32 during trading hours on Wednesday, hitting C$24.92. 1,799,356 shares of the company’s stock traded hands, compared to its average volume of 2,814,642. The stock’s fifty day simple moving average is C$23.39 and its two-hundred day simple moving average is C$24.57. MEG Energy Corp. has a 12-month low of C$19.77 and a 12-month high of C$33.70. The stock has a market cap of C$6.46 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.17 and a beta of 2.89. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 22.80.

MEG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 1.61%. MEG Energy’s dividend payout ratio is 21.19%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MEG. TD Securities reduced their price objective 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. National Bankshares raised their target price on MEG Energy from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. ATB Capital cut their target price on MEG Energy from C$37.00 to C$35.00 in a research note 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. Finally, Royal Bank of Canada cut their target price on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.