MEG Energy Corp. (TSE:MEG) Director Robert Ross Rooney Acquires 8,500 Shares

MEG Energy Corp. (TSE:MEG) Director Robert Ross Rooney bought 8,500 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were acquired at an average price of C$23.06 per share, for a total transaction of C$195,993.00.

MEG Energy Price Performance

Shares of MEG stock traded up C$0.04 on Thursday, reaching C$22.65. The company had a trading volume of 622,490 shares, compared to its average volume of 1,677,466. The stock has a market capitalization of C$6.10 billion, a PE ratio of 10.79, 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 1.54 and a debt-to-equity ratio of 26.35. The business’s 50-day moving average is C$25.50 and its 200 day moving average is C$26.68. MEG Energy Corp. has a one year low of C$22.36 and a one year high of C$33.70.

MEG Energy (TSE:MEG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing the consensus estimate of C$0.63 by C($0.01). The company had revenue of C$1.27 billion during the quarter, compared to the consensus estimate of C$1.33 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. Equities research analysts forecast that MEG Energy Corp. will post 2.2734628 EPS for the current fiscal year.

MEG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. MEG Energy’s dividend payout ratio is currently 19.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MEG. Scotiabank raised MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price target on the stock in a research report on Wednesday, September 25th. Jefferies Financial Group reduced their target price on MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a report on Monday, September 16th. BMO Capital Markets dropped their price target on MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. ATB Capital reduced their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Finally, TD Securities boosted their target price on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$32.45.

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.