Analysts Set MEG Energy Corp (TSE:MEG) PT at C$4.98

MEG Energy Corp (TSE:MEG) has received an average recommendation of “Hold” from the seventeen research firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$5.05.

A number of equities analysts have commented on the company. Tudor Pickering & Holt set a C$3.50 target price on MEG Energy and gave the company a “hold” rating in a report on Tuesday, May 5th. TD Securities lowered their price objective on MEG Energy from C$9.00 to C$8.50 and set a “hold” rating for the company in a research report on Thursday, March 5th. CIBC lowered their price objective on MEG Energy from C$6.75 to C$4.25 in a research report on Wednesday, April 22nd. BMO Capital Markets raised their price target on MEG Energy from C$3.00 to C$3.50 in a research report on Tuesday, May 5th. Finally, Stifel Firstegy upgraded MEG Energy from a “hold” rating to a “buy” rating in a report on Wednesday, May 6th.

Shares of TSE MEG opened at C$3.64 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.94 and a debt-to-equity ratio of 97.41. The business has a fifty day simple moving average of C$3.39 and a two-hundred day simple moving average of C$4.83. The firm has a market cap of $1.09 billion and a PE ratio of -3.63. MEG Energy has a twelve month low of C$1.13 and a twelve month high of C$8.07.

MEG Energy (TSE:MEG) last announced its earnings results on Monday, May 4th. The company reported C($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.09) by C($0.08). The company had revenue of C$665.00 million during the quarter, compared to the consensus estimate of C$545.05 million. On average, research analysts expect that MEG Energy will post -1.0228177 earnings per share for the current year.

In other MEG Energy news, Director Jeffrey James Mccaig purchased 16,200 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were acquired at an average price of C$2.52 per share, for a total transaction of C$40,824.00. Following the acquisition, the director now owns 536,200 shares of the company’s stock, valued at C$1,351,224. Also, Director Harvey Doerr purchased 33,000 shares of the business’s stock in a transaction dated Monday, March 30th. The shares were acquired at an average price of C$1.20 per share, for a total transaction of C$39,600.00. Following the acquisition, the director now directly owns 75,000 shares in the company, valued at approximately C$90,000.

About MEG Energy

MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta.

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Analyst Recommendations for MEG Energy (TSE:MEG)

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