MEG Energy (TSE:MEG – Get Free Report) had its target price reduced by stock analysts at BMO Capital Markets from C$37.00 to C$34.00 in a research note issued on Friday, BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 22.79% from the company’s current price.
Several other equities research analysts have also commented on MEG. Jefferies Financial Group lowered their price target on shares of MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a report on Monday, September 16th. Scotiabank raised shares of MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective on the stock in a research note on Wednesday, September 25th. Royal Bank of Canada lowered their price target on shares of MEG Energy from C$39.00 to C$35.00 in a report on Tuesday, September 17th. TD Securities upgraded shares of MEG Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 7th. Finally, National Bankshares lowered their target price on shares of MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$32.27.
Read Our Latest Stock Report on MEG
MEG Energy Trading Up 0.4 %
MEG Energy (TSE:MEG – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.86 earnings per share for the quarter, topping the consensus estimate of C$0.69 by C$0.17. The company had revenue of C$2.74 billion for the quarter, compared to the consensus estimate of C$1.28 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. Equities analysts predict that MEG Energy will post 2.2403101 EPS for the current year.
Insiders Place Their Bets
In other MEG Energy news, Director James D. Mcfarland purchased 5,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were purchased at an average cost of C$26.94 per share, with a total value of C$134,700.00. In related news, Director Michael Mcallister bought 7,400 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of C$25.67 per share, for a total transaction of C$189,986.86. Also, Director James D. Mcfarland bought 5,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was bought at an average cost of C$26.94 per share, with a total value of C$134,700.00. 0.33% of the stock is currently owned by corporate 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.
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