MEG Energy (TSE:MEG) had its price target reduced by stock analysts at Goldman Sachs Group from C$7.00 to C$6.00 in a report issued on Tuesday, BayStreet.CA reports. Goldman Sachs Group’s price objective suggests a potential upside of 15.83% from the company’s current price.
MEG has been the topic of several other reports. Royal Bank of Canada reduced their price target on MEG Energy from C$7.00 to C$6.50 in a research report on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on MEG Energy from C$6.50 to C$6.00 in a research report on Wednesday, September 11th. UBS Group raised their price target on MEG Energy from C$5.50 to C$6.00 in a research report on Monday, September 23rd. National Bank Financial reduced their price target on MEG Energy from C$8.50 to C$8.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, GMP Securities dropped their price objective on MEG Energy from C$8.50 to C$8.00 in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. MEG Energy currently has a consensus rating of “Hold” and an average target price of C$6.88.
TSE:MEG opened at C$5.18 on Tuesday. MEG Energy has a 12-month low of C$4.06 and a 12-month high of C$10.75. The company has a quick ratio of 1.67, a current ratio of 1.88 and a debt-to-equity ratio of 102.53. The firm has a market capitalization of $1.46 billion and a P/E ratio of -7.99. The stock’s fifty day simple moving average is C$5.54 and its 200-day simple moving average is C$5.30.
In other MEG Energy news, Director William Robert Klesse acquired 12,800 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average price of C$4.64 per share, with a total value of C$59,423.23. Following the purchase, the director now owns 262,800 shares of the company’s stock, valued at approximately C$1,220,033.23.
About MEG Energy
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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