MEG Energy (TSE:MEG) Stock Crosses Below 50 Day Moving Average – What’s Next?

MEG Energy Corp. (TSE:MEGGet Free Report)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 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 traded.

MEG Energy Trading Up 0.7%

The company has a quick ratio of 1.17, a current ratio of 1.73 and a debt-to-equity ratio of 22.34. The firm’s 50 day simple moving average is C$30.89 and its two-hundred day simple moving average is C$30.89. The stock has a market cap of C$7.86 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.17 and a beta of 0.45.

MEG Energy Company Profile

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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.

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