MEG Energy Corp. (TSE:MEG) Announces Quarterly Dividend of $0.10

MEG Energy Corp. (TSE:MEG) declared a quarterly dividend on Thursday, March 20th, TickerTech Dividends reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.10 per share on Tuesday, April 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, March 20th.

MEG Energy Stock Up 1.7 %

MEG stock opened at C$24.59 on Tuesday. The company has a 50 day moving average of C$23.40 and a two-hundred day moving average of C$24.59. 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 12-month low of C$19.77 and a 12-month high of C$33.70. The company has a market cap of C$6.37 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.17 and a beta of 2.89.

Insiders Place Their Bets

In related news, Director Robert Ross Rooney bought 8,500 shares of MEG Energy stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of C$23.06 per share, for a total transaction of C$195,993.00. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MEG. ATB Capital reduced their price objective on MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. TD Securities dropped their price objective on MEG Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a report on Friday, February 28th. National Bankshares lifted their target price on shares of MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Desjardins upgraded shares of MEG Energy from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada cut their price target on shares of MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, MEG Energy presently has a consensus rating of “Hold” and an average price target of C$31.40.

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.