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 bought 3,500 shares of MEG Energy stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average price of C$25.06 per share, for a total transaction of C$87,713.85.

MEG Energy Stock Performance

Shares of MEG Energy stock opened at C$25.20 on Friday. The firm has a market cap of C$6.79 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The firm’s 50-day simple moving average is C$26.10 and its 200-day simple moving average is C$27.25. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54. MEG Energy Corp. has a 1 year low of C$22.79 and a 1 year high of C$33.70.

MEG Energy (TSE:MEG) last issued its earnings results on Tuesday, November 5th. The company reported C$0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.01). The company had revenue of C$1.27 billion during the quarter, compared to analyst estimates of C$1.33 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. Equities analysts forecast that MEG Energy Corp. will post 2.2734628 earnings per share for the current fiscal year.

MEG Energy Announces Dividend

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

Wall Street Analyst Weigh In

MEG has been the topic of several recent research reports. ATB Capital reduced their target price on shares of MEG Energy from C$37.00 to C$35.00 in a report on Wednesday. Royal Bank of Canada reduced their target price on shares of MEG Energy from C$34.00 to C$33.00 in a report on Wednesday. National Bankshares cut their price objective on shares of MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. Jefferies Financial Group cut their price objective 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. Finally, Scotiabank upgraded 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 report on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, MEG Energy presently has an average rating of “Hold” and an average price target of C$32.45.

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.