Kimberley Elizabeth Lynch Proctor Acquires 3,500 Shares of MEG Energy Corp. (TSE:MEG) Stock

MEG Energy Corp. (TSE:MEG) Director Kimberley Elizabeth Lynch Proctor acquired 3,500 shares of the business’s stock in a transaction that occurred on Thursday, November 28th. The shares were bought at an average price of C$25.06 per share, with a total value of C$87,713.85.

MEG Energy Stock Up 0.8 %

Shares of TSE MEG opened at C$25.20 on Friday. MEG Energy Corp. has a 52-week low of C$22.79 and a 52-week high of C$33.70. The firm has a fifty day moving average of C$26.10 and a 200-day moving average of C$27.25. The stock has a market capitalization of C$6.79 billion, a PE ratio of 12.00, a P/E/G ratio of 0.17 and a beta of 2.89. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35.

MEG Energy (TSE:MEG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.63 by C($0.01). MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The company had revenue of C$1.27 billion for the quarter, compared to analysts’ expectations of C$1.33 billion. On average, analysts anticipate that MEG Energy Corp. will post 2.2734628 EPS for the current year.

MEG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.59%. MEG Energy’s dividend payout ratio is presently 19.05%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Scotiabank upgraded MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective for the company in a research report on Wednesday, September 25th. TD Securities lifted their price objective on MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. National Bankshares cut their price objective on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Royal Bank of Canada lowered their target price on shares of MEG Energy from C$34.00 to C$33.00 in a research note on Wednesday. Finally, ATB Capital lowered their target price on shares of MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, MEG Energy presently has a consensus rating of “Hold” and an average target price of C$32.45.

About MEG Energy

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.