MEG Energy (TSE:MEG) Share Price Passes Below 200-Day Moving Average – What’s Next?

MEG Energy Corp. (TSE:MEG)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$30.89 and traded as low as C$30.49. MEG Energy shares last traded at C$30.89, with a volume of 6,350,674 shares.

MEG Energy Price Performance

The company has a current ratio of 1.73, a quick ratio of 1.17 and a debt-to-equity ratio of 22.34. The business has a 50-day moving average price of C$30.89 and a two-hundred day moving average price of C$30.89. The firm has a market capitalization of C$7.86 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.17 and a beta of 0.45.

About MEG Energy

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.