MEG Energy (MEG) PT Lowered to C$13.00 at Eight Capital

MEG Energy (TSE:MEG) had its price target trimmed by Eight Capital from C$17.00 to C$13.00 in a report published on Wednesday.

Other equities research analysts have also issued reports about the stock. TD Securities upped their price target on shares of MEG Energy from C$9.00 to C$9.50 and gave the company a hold rating in a report on Tuesday, August 7th. AltaCorp Capital lowered shares of MEG Energy from an outperform rating to a sector perform rating in a report on Tuesday, July 17th. National Bank Financial reiterated a sector perform spec overwgt rating on shares of MEG Energy in a report on Tuesday, October 9th. CIBC reiterated a neutral rating and set a C$12.00 price target on shares of MEG Energy in a report on Friday, October 5th. Finally, Raymond James lowered their price target on shares of MEG Energy from C$15.00 to C$12.00 in a report on Friday, October 5th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of C$10.43.

TSE:MEG opened at C$10.92 on Wednesday. MEG Energy has a 52 week low of C$4.28 and a 52 week high of C$11.70.

MEG Energy (TSE:MEG) last posted its quarterly earnings results on Thursday, August 2nd. The company reported C($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of C($0.18) by C($0.06). MEG Energy had a negative net margin of 3.15% and a negative return on equity of 2.40%. The firm had revenue of C$674.04 million for the quarter.

In related news, Director Derek Watson Evans acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was acquired at an average cost of C$7.20 per share, for a total transaction of C$144,000.00. Insiders acquired a total of 92,000 shares of company stock valued at $746,820 over the last 90 days.

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.

See Also: Dividend

Analyst Recommendations for MEG Energy (TSE:MEG)

Receive News & Ratings for MEG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEG Energy and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply