TD Securities Lowers MEG Energy (TSE:MEG) Price Target to C$32.00

MEG Energy (TSE:MEG) had its price target reduced by analysts at TD Securities from C$33.00 to C$32.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 43.11% from the stock’s current price.

Several other analysts also recently weighed in on MEG. ATB Capital dropped their target price on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Royal Bank of Canada cut their target price on MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. National Bankshares upped their target price on MEG Energy from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. Finally, Desjardins raised shares of MEG Energy from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, MEG Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.64.

MEG Energy Stock Down 2.6 %

TSE MEG traded down C$0.59 during trading on Friday, hitting C$22.36. The company’s stock had a trading volume of 1,870,866 shares, compared to its average volume of 2,246,925. MEG Energy has a fifty-two week low of C$21.43 and a fifty-two week high of C$33.70. The company has a market cap of C$5.80 billion, a PE ratio of 11.84, a P/E/G ratio of 0.17 and a beta of 2.89. The company has a debt-to-equity ratio of 22.80, a current ratio of 1.55 and a quick ratio of 1.17. The business’s 50 day simple moving average is C$23.55 and its 200-day simple moving average is C$25.00.

Insider Activity

In other news, Director Robert Ross Rooney bought 8,500 shares of MEG Energy stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of C$23.06 per share, with a total value of C$195,993.00. Company insiders own 0.33% of the company’s stock.

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.