Several analysts have recently updated their ratings and price targets for MEG Energy (TSE: MEG):
- 4/22/2024 – MEG Energy had its price target raised by analysts at CIBC from C$30.00 to C$34.00. They now have a “neutral” rating on the stock.
- 4/19/2024 – MEG Energy had its price target raised by analysts at National Bankshares, Inc. from C$32.00 to C$37.00. They now have a “sector perform” rating on the stock.
- 4/12/2024 – MEG Energy had its price target raised by analysts at Jefferies Financial Group Inc. from C$28.00 to C$35.00. They now have a “hold” rating on the stock.
- 4/9/2024 – MEG Energy had its price target raised by analysts at Royal Bank of Canada from C$32.00 to C$39.00.
- 3/28/2024 – MEG Energy had its price target raised by analysts at BMO Capital Markets from C$35.00 to C$37.00.
- 3/22/2024 – MEG Energy had its price target raised by analysts at CIBC from C$26.00 to C$30.00. They now have a “neutral” rating on the stock.
- 3/22/2024 – MEG Energy had its price target raised by analysts at Desjardins from C$30.00 to C$31.00. They now have a “hold” rating on the stock.
- 3/20/2024 – MEG Energy had its price target raised by analysts at ATB Capital from C$32.00 to C$35.00. They now have an “outperform” rating on the stock.
- 3/12/2024 – MEG Energy had its price target raised by analysts at JPMorgan Chase & Co. from C$33.00 to C$34.00.
- 3/4/2024 – MEG Energy had its price target raised by analysts at National Bankshares, Inc. from C$30.00 to C$32.00. They now have a “sector perform” rating on the stock.
- 3/4/2024 – MEG Energy had its price target raised by analysts at Royal Bank of Canada from C$31.00 to C$32.00. They now have an “outperform” rating on the stock.
- 3/4/2024 – MEG Energy had its price target raised by analysts at BMO Capital Markets from C$30.00 to C$35.00. They now have an “outperform” rating on the stock.
- 3/4/2024 – MEG Energy had its price target raised by analysts at Desjardins from C$27.50 to C$30.00. They now have a “hold” rating on the stock.
- 3/1/2024 – MEG Energy had its price target raised by analysts at TD Securities from C$28.00 to C$32.00. They now have a “hold” rating on the stock.
MEG Energy Price Performance
Shares of MEG Energy stock traded up C$0.08 during trading on Monday, reaching C$32.30. 445,263 shares of the stock traded hands, compared to its average volume of 1,794,407. MEG Energy Corp. has a 52-week low of C$19.41 and a 52-week high of C$33.70. The company has a market capitalization of C$8.79 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 0.17 and a beta of 3.16. The business has a fifty day simple moving average of C$30.29 and a two-hundred day simple moving average of C$26.96. The company has a debt-to-equity ratio of 30.55, a current ratio of 1.48 and a quick ratio of 1.17.
MEG Energy (TSE:MEG – Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing the consensus estimate of C$0.59 by C($0.22). MEG Energy had a net margin of 10.06% and a return on equity of 12.77%. The firm had revenue of C$1.44 billion during the quarter, compared to analyst estimates of C$1.40 billion. Sell-side analysts expect that MEG Energy Corp. will post 2.3198041 EPS for the current year.
Insider Transactions at 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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