Shares of MEG Energy Corp. (TSE:MEG – Get Free Report) have received an average rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$32.27.
A number of research analysts have recently issued reports on MEG shares. Jefferies Financial Group decreased their target price on MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. Scotiabank upgraded MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 target price on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada decreased their target price on MEG Energy from C$39.00 to C$35.00 in a research report on Tuesday, September 17th. National Bankshares decreased their target price on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Finally, BMO Capital Markets decreased their target price on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th.
Get Our Latest Research Report on MEG Energy
MEG Energy Price Performance
MEG Energy (TSE:MEG – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.86 EPS for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.17. The business had revenue of C$2.74 billion for the quarter, compared to analysts’ expectations of C$1.28 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. Analysts expect that MEG Energy will post 2.2734628 EPS for the current year.
MEG Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, September 17th. MEG Energy’s dividend payout ratio (DPR) is presently 19.05%.
Insiders Place Their Bets
In related news, Director James D. Mcfarland bought 5,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of C$26.94 per share, with a total value of C$134,700.00. In other MEG Energy news, Director Michael Mcallister acquired 7,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of C$25.67 per share, with a total value of C$189,986.86. Also, Director James D. Mcfarland acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of C$26.94 per share, with a total value of C$134,700.00. Corporate insiders own 0.33% of the company’s stock.
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.
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