MEG Energy (TSE:MEG – Free Report) had its price target upped by TD Securities from C$31.00 to C$32.00 in a research note published on Tuesday, BayStreet.CA reports. They currently have a hold rating on the stock.
MEG has been the subject of several other reports. Desjardins boosted their price objective on MEG Energy from C$30.00 to C$31.00 and gave the company a hold rating in a research note on Friday, March 22nd. ATB Capital boosted their price target 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. CIBC raised their price objective on shares of MEG Energy from C$30.00 to C$34.00 and gave the stock a neutral rating in a research report on Monday, April 22nd. Royal Bank of Canada lifted their price objective on shares of MEG Energy from C$32.00 to C$39.00 in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group increased their target price on shares of MEG Energy from C$28.00 to C$35.00 and gave the stock a hold rating in a research note on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, MEG Energy has a consensus rating of Hold and a consensus price target of C$33.09.
MEG Energy Stock Performance
MEG Energy (TSE:MEG – Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.40 billion. MEG Energy had a return on equity of 12.77% and a net margin of 10.06%. Research analysts anticipate that MEG Energy will post 2.3198041 earnings per share for the current year.
Insider Activity
In related news, Senior Officer David Michael Granger sold 32,144 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$30.47, for a total transaction of C$979,504.83. In related news, Senior Officer David Michael Granger sold 32,144 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. Also, Director Derek Watson Evans sold 234,562 shares of the company’s stock in a transaction dated 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. Insiders have sold 301,679 shares of company stock worth $8,825,336 over the last 90 days. 0.63% of the stock is currently owned by corporate insiders.
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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