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

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

MEG Energy Stock Performance

TSE MEG opened at C$24.59 on Tuesday. The company has a market capitalization of C$6.37 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. MEG Energy has a 52-week low of C$19.77 and a 52-week high of C$33.70. The company has a 50-day simple moving average of C$23.40 and a 200 day simple moving average of C$24.59.

Insider Transactions at MEG Energy

In other news, Director Robert Ross Rooney purchased 8,500 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of C$23.06 per share, with a total value of C$195,993.00. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

MEG has been the topic of a number of research reports. Royal Bank of Canada lowered their price target on shares of MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. ATB Capital lowered their target price on MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Desjardins upgraded MEG Energy from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, January 28th. National Bankshares boosted their price objective on 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. Finally, TD Securities cut their target price on shares of 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$31.40.

About 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.