MEG Energy (TSE:MEG) Sets New 1-Year High at $8.05

Shares of MEG Energy Corp (TSE:MEG) hit a new 52-week high on Thursday . The company traded as high as C$8.05 and last traded at C$7.99, with a volume of 240144 shares trading hands. The stock had previously closed at C$7.85.

A number of research analysts have recently weighed in on the company. Tudor Pickering & Holt raised MEG Energy from a “hold” rating to a “buy” rating and set a C$9.50 price objective on the stock in a report on Tuesday, January 7th. Tudor Pickering upgraded MEG Energy from a “hold” rating to a “buy” rating and set a C$9.50 target price on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada downgraded MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$6.50 target price on the stock. in a research note on Monday, December 16th. Raymond James set a C$6.50 target price on MEG Energy and gave the stock a “market perform” rating in a research note on Tuesday, November 26th. Finally, Scotiabank upped their target price on MEG Energy from C$7.00 to C$8.50 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. MEG Energy currently has a consensus rating of “Hold” and an average target price of C$7.47.

The firm has a market cap of $2.35 billion and a PE ratio of -8.38. The firm has a 50-day moving average price of C$6.96 and a two-hundred day moving average price of C$5.71. The company has a quick ratio of 1.25, a current ratio of 1.52 and a debt-to-equity ratio of 92.61.

MEG Energy (TSE:MEG) last released its earnings results on Wednesday, October 30th. The company reported C$0.08 earnings per share for the quarter, missing the consensus estimate of C$0.14 by C($0.06). The firm had revenue of C$942.00 million during the quarter, compared to analyst estimates of C$791.28 million. Research analysts forecast that MEG Energy Corp will post 0.13 earnings per share for the current fiscal year.

MEG Energy Company Profile (TSE:MEG)

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.

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