MEG Energy (TSE:MEG – Get Free Report) had its price objective decreased by equities researchers at BMO Capital Markets from C$37.00 to C$34.00 in a note issued to investors on Friday, BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 22.04% from the stock’s current price.
MEG has been the topic of a number of other research reports. TD Securities upgraded shares of MEG Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 7th. Royal Bank of Canada dropped their price target on MEG Energy from C$39.00 to C$35.00 in a research note on Tuesday, September 17th. Scotiabank upgraded MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective for the company in a report on Wednesday, September 25th. National Bankshares reduced their price target on shares of MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Finally, Jefferies Financial Group dropped their price objective 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. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$32.27.
Check Out Our Latest Report on MEG Energy
MEG Energy Trading Up 1.0 %
MEG Energy (TSE:MEG – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.86 EPS for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.17. The business had revenue of C$2.74 billion for the quarter, compared to analysts’ expectations of C$1.28 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. As a group, equities analysts forecast that MEG Energy will post 2.2403101 EPS for the current fiscal year.
Insider Buying and Selling at MEG Energy
In other news, Director James D. Mcfarland bought 5,000 shares of the stock in a transaction on Friday, August 30th. The shares were acquired at an average cost of C$26.94 per share, for a total transaction of C$134,700.00. In related news, Director Michael Mcallister bought 7,400 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$25.67 per share, with a total value of C$189,986.86. Also, Director James D. Mcfarland acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were bought at an average cost 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.
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