MEG Energy (TSE:MEG) had its price target boosted by National Bank Financial from C$6.25 to C$8.00 in a research report report published on Friday morning. They currently have a sector perform rating on the stock.
MEG has been the subject of several other research reports. Royal Bank of Canada boosted their target price on shares of MEG Energy from C$8.00 to C$9.00 in a research report on Friday, February 9th. Raymond James raised shares of MEG Energy from an underperform rating to a market perform rating and boosted their price objective for the company from C$5.00 to C$6.50 in a research report on Friday, February 9th. Eight Capital boosted their price objective on shares of MEG Energy from C$8.00 to C$9.00 in a research report on Monday, February 12th. GMP Securities set a C$10.00 price objective on shares of MEG Energy in a research report on Friday. Finally, BMO Capital Markets reaffirmed a market perform rating and set a C$6.00 price objective on shares of MEG Energy in a research report on Friday, March 23rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. MEG Energy presently has an average rating of Buy and an average target price of C$8.43.
MEG opened at C$8.99 on Friday. MEG Energy has a 1-year low of C$3.28 and a 1-year high of C$8.98.
In related news, insider Pincus & Co. Warburg sold 21,782,705 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of C$4.85, for a total transaction of C$105,646,119.25.
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.
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