MEG Energy (TSE:MEG) Price Target Increased to C$37.00 by Analysts at National Bankshares

MEG Energy (TSE:MEG) had its target price increased by National Bankshares from C$32.00 to C$37.00 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other research analysts also recently issued research reports about the stock. ATB Capital upped their price objective on shares of MEG Energy from C$32.00 to C$35.00 and gave the company an outperform rating in a research note on Wednesday, March 20th. TD Securities increased their target price on shares of MEG Energy from C$28.00 to C$32.00 and gave the stock a hold rating in a research report on Friday, March 1st. Royal Bank of Canada increased their target price on shares of MEG Energy from C$32.00 to C$39.00 in a research report on Tuesday, April 9th. Desjardins increased their target price on shares of MEG Energy from C$30.00 to C$31.00 and gave the stock a hold rating in a research report on Friday, March 22nd. Finally, Jefferies Financial Group increased their target price on shares of MEG Energy from C$28.00 to C$35.00 and gave the stock a hold rating in a research report on Friday, April 12th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of C$32.73.

MEG Energy Trading Down 0.4 %

TSE MEG opened at C$31.16 on Friday. MEG Energy has a 12 month low of C$19.41 and a 12 month high of C$33.70. The company has a 50-day moving average of C$29.61 and a 200-day moving average of C$26.71. The company has a debt-to-equity ratio of 30.55, a current ratio of 1.48 and a quick ratio of 1.17. The company has a market cap of C$8.48 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.17 and a beta of 3.16.

MEG Energy (TSE:MEG) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.22). MEG Energy had a net margin of 10.06% and a return on equity of 12.77%. The company had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.40 billion. As a group, equities analysts predict that MEG Energy will post 2.3198041 earnings per share for the current year.

Insiders Place Their Bets

In other MEG Energy news, Senior Officer David Michael Granger sold 32,144 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$30.47, for a total value of C$979,504.83. In other MEG Energy news, Senior Officer Erik Alexander Alson sold 34,528 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$30.24, for a total value of C$1,044,126.72. Also, Senior Officer David Michael Granger sold 32,144 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total value of C$979,504.83. Insiders sold a total of 301,679 shares of company stock worth $8,825,336 in the last 90 days. 0.63% of the stock is owned by company insiders.

MEG Energy Company Profile

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.