MEG Energy Corp (MEG) Price Target Increased to C$6.00 by Analysts at Barclays PLC

MEG Energy Corp (TSE:MEG) had its price target increased by Barclays PLC from C$5.00 to C$6.00 in a research note issued to investors on Friday. Barclays PLC’s target price would indicate a potential upside of 13.42% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. National Bank Financial upped their price target on shares of MEG Energy Corp from C$4.75 to C$5.25 and gave the company a “sector perform” rating in a research report on Friday. CIBC upped their price target on shares of MEG Energy Corp from C$4.50 to C$5.25 in a research report on Tuesday, October 17th. Finally, TD Securities upped their price target on shares of MEG Energy Corp from C$5.50 to C$6.00 and gave the company a “hold” rating in a research report on Friday, July 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of C$7.15.

MEG Energy Corp (TSE:MEG) traded up 0.95% during mid-day trading on Friday, hitting $5.34. 718,457 shares of the stock traded hands. The company has a 50 day moving average price of $5.34 and a 200-day moving average price of $5.12. MEG Energy Corp has a one year low of $3.28 and a one year high of $9.83. The stock’s market capitalization is $1.57 billion.

MEG Energy Corp (TSE:MEG) last released its quarterly earnings data on Thursday, July 27th. The company reported C($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C($0.17) by C$0.05. The business had revenue of C$574.03 million during the quarter. MEG Energy Corp had a net margin of 18.17% and a return on equity of 10.88%. Equities analysts anticipate that MEG Energy Corp will post ($0.57) earnings per share for the current fiscal year.

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About MEG Energy Corp

MEG Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.

Analyst Recommendations for MEG Energy Corp (TSE:MEG)

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