MEG Energy Corp. (TSE:MEG) Senior Officer Mark Anand Telang Buys 805 Shares

MEG Energy Corp. (TSE:MEG) Senior Officer Mark Anand Telang bought 805 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of C$24.80 per share, for a total transaction of C$19,962.47.

MEG Energy Price Performance

MEG stock opened at C$23.80 on Friday. The business has a fifty day moving average of C$26.02 and a two-hundred day moving average of C$27.04. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. The stock has a market cap of C$6.41 billion, a price-to-earnings ratio of 11.33, 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$22.79 and a 52-week high of C$33.70.

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

MEG Energy Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.68%. MEG Energy’s dividend payout ratio (DPR) is 19.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group decreased their target price on MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. TD Securities raised their target price on MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. National Bankshares decreased their target price on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. BMO Capital Markets decreased their target price on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Finally, Royal Bank of Canada decreased their target price on MEG Energy from C$34.00 to C$33.00 in a research report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$32.45.

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.