MEG Energy (TSE:MEG) Price Target Raised to C$32.00 at TD Securities

MEG Energy (TSE:MEG) had its price target upped by TD Securities from C$31.00 to C$32.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Other analysts also recently issued reports about the stock. CIBC raised their target price on shares of MEG Energy from C$30.00 to C$34.00 and gave the stock a neutral rating in a report on Monday, April 22nd. National Bankshares upped their price objective on MEG Energy from C$32.00 to C$37.00 and gave the stock a sector perform rating in a research report on Friday, April 19th. ATB Capital boosted their target price on MEG Energy from C$32.00 to C$35.00 and gave the company an outperform rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their price target on shares of MEG Energy from C$33.00 to C$34.00 in a research note on Tuesday, March 12th. Finally, Desjardins boosted their price objective on shares of MEG Energy from C$30.00 to C$31.00 and gave the stock a hold rating in a research report on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of C$33.09.

MEG Energy Stock Performance

Shares of TSE:MEG opened at C$31.00 on Tuesday. MEG Energy has a 1-year low of C$19.41 and a 1-year high of C$33.70. The business has a 50-day moving average price of C$31.08 and a two-hundred day moving average price of C$27.23. The company has a current ratio of 1.41, a quick ratio of 1.17 and a debt-to-equity ratio of 28.18. The stock has a market capitalization of C$8.45 billion, a P/E ratio of 15.05, a P/E/G ratio of 0.17 and a beta of 3.12.

MEG Energy (TSE:MEG) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.22). MEG Energy had a net margin of 10.58% and a return on equity of 13.20%. The firm had revenue of C$1.44 billion during the quarter, compared to analyst estimates of C$1.40 billion. Equities analysts predict that MEG Energy will post 2.4049651 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Derek Watson Evans sold 234,562 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of C$28.94, for a total transaction of C$6,788,247.74. In related news, Senior Officer Erik Alexander Alson sold 34,528 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$30.24, for a total transaction of C$1,044,126.72. Also, Director Derek Watson Evans sold 234,562 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of C$28.94, for a total value of C$6,788,247.74. Insiders have sold a total of 301,679 shares of company stock worth $8,825,336 in the last quarter. Corporate insiders own 0.32% 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.