MEG Energy (MEG) Receives Consensus Rating of “Hold” from Brokerages

MEG Energy (TSE:MEG) has been given a consensus rating of “Hold” by the ten brokerages that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$7.00.

Several analysts have commented on the stock. Barclays lifted their price objective on shares of MEG Energy from C$5.00 to C$7.00 in a research note on Monday, January 29th. Raymond James Financial upgraded shares of MEG Energy from an “underperform” rating to a “market perform” rating and boosted their target price for the company from C$5.00 to C$6.50 in a research note on Friday, February 9th. Eight Capital boosted their target price on shares of MEG Energy from C$8.00 to C$9.00 in a research note on Monday, February 12th. GMP Securities boosted their target price on shares of MEG Energy from C$7.00 to C$8.00 in a research note on Monday, February 12th. Finally, National Bank Financial boosted their target price on shares of MEG Energy from C$5.25 to C$6.25 and gave the company a “sector perform” rating in a research note on Tuesday, January 9th.

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TSE MEG traded up C$0.16 on Friday, hitting C$6.09. 3,512,700 shares of the company’s stock traded hands, compared to its average volume of 1,536,484. MEG Energy has a 1-year low of C$3.28 and a 1-year high of C$6.91.

MEG Energy (TSE:MEG) last announced its quarterly earnings data on Thursday, February 8th. The company reported C$0.15 EPS for the quarter. MEG Energy had a negative net margin of 3.15% and a negative return on equity of 2.40%. The business had revenue of C$755.00 million during the quarter.

In related news, insider Pincus & Co. Warburg sold 21,782,705 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of C$4.85, for a total value of C$105,646,119.25.

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MEG Energy Company Profile

MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta, as well as primarily engages in a steam-assisted gravity drainage oil sands development at its Christina Lake project.

Analyst Recommendations for MEG Energy (TSE:MEG)

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