Raymond James Reaffirms “Hold” Rating for MEG Energy (OTCMKTS:MEGEF)

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MEG Energy (OTCMKTS:MEGEF)‘s stock had its “hold” rating restated by stock analysts at Raymond James in a report released on Thursday, AnalystRatings.com reports. They presently have a $2.50 price objective on the stock. Raymond James’ price objective points to a potential upside of 142.72% from the stock’s current price.

Several other research analysts also recently commented on MEGEF. TD Securities downgraded MEG Energy from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Credit Suisse Group reduced their target price on MEG Energy from $8.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday. Tudor Pickering downgraded MEG Energy from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. raised MEG Energy from an “underweight” rating to a “neutral” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $3.00 target price on shares of MEG Energy in a report on Monday, March 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. MEG Energy has an average rating of “Hold” and an average price target of $3.88.

Shares of MEGEF traded up $0.01 on Thursday, hitting $1.03. The company’s stock had a trading volume of 85,946 shares, compared to its average volume of 36,859. MEG Energy has a fifty-two week low of $0.86 and a fifty-two week high of $6.14. The company has a 50 day moving average price of $3.88 and a 200 day moving average price of $4.48.

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 (OTCMKTS:MEGEF)

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