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

Shares of MEG Energy Corp. (TSE:MEG) have earned an average recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$30.95.

MEG has been the subject of a number of research analyst reports. National Bankshares upped their target price on MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. TD Securities decreased their target price on MEG Energy from C$33.00 to C$32.00 and set a “buy” rating for the company in a research report on Friday, February 28th. ATB Capital decreased their target price on MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Desjardins cut MEG Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from C$29.00 to C$26.50 in a research report on Wednesday. Finally, Royal Bank of Canada reduced their price objective on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th.

Insider Transactions at MEG Energy

In other news, Director Darlene Miriam Gates sold 91,584 shares of the stock in a transaction that occurred on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$2,215,416.96. Also, Senior Officer Erik Alexander Alson sold 32,728 shares of the stock in a transaction that occurred on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total value of C$791,690.32. Company insiders own 0.33% of the company’s stock.

MEG Energy Stock Up 0.1 %

Shares of TSE MEG opened at C$24.85 on Friday. The stock has a market cap of C$6.44 billion, a PE ratio of 13.16, a price-to-earnings-growth 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 has a 52-week low of C$19.77 and a 52-week high of C$33.70. The business has a 50-day moving average price of C$23.41 and a 200 day moving average price of C$24.54.

MEG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, March 20th. MEG Energy’s dividend payout ratio (DPR) is 21.19%.

MEG Energy Company Profile

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.