MEG Energy (TSE:MEG) Price Target Cut to C$6.00

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.

MEG Energy (TSE:MEG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C($0.04) earnings per share (EPS) for the quarter. The firm had revenue of C$1.04 billion during the quarter. As a group, equities research analysts expect that MEG Energy will post 0.1601621 earnings per share for the current year.

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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Analyst Recommendations for MEG Energy (TSE:MEG)

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