Insider Selling: MEG Energy Corp. (TSE:MEG) Senior Officer Sells 69,000 Shares of Stock

MEG Energy Corp. (TSE:MEGGet Rating) Senior Officer Eric Lloyd Toews sold 69,000 shares of the company’s stock in a transaction that occurred on Sunday, May 8th. The shares were sold at an average price of C$19.50, for a total transaction of C$1,345,500.00. Following the transaction, the insider now owns 15,954 shares in the company, valued at approximately C$311,103.

Eric Lloyd Toews also recently made the following trade(s):

  • On Monday, March 21st, Eric Lloyd Toews sold 86,500 shares of MEG Energy stock. The shares were sold at an average price of C$18.40, for a total transaction of C$1,591,600.00.

MEG traded down C$0.21 during midday trading on Tuesday, hitting C$18.63. 4,063,914 shares of the company traded hands, compared to its average volume of 2,914,189. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 79.52. The company has a market capitalization of C$5.72 billion and a price-to-earnings ratio of 20.56. MEG Energy Corp. has a 52-week low of C$6.57 and a 52-week high of C$22.45. The business has a 50 day simple moving average of C$18.36 and a two-hundred day simple moving average of C$14.76.

MEG Energy (TSE:MEGGet Rating) last posted its quarterly earnings data on Thursday, March 3rd. The company reported C$0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.35 by C$0.22. The company had revenue of C$1.31 billion for the quarter, compared to analysts’ expectations of C$1.24 billion. Equities research analysts anticipate that MEG Energy Corp. will post 2.8910929 earnings per share for the current year.

A number of analysts have recently weighed in on the stock. Tudor Pickering & Holt increased their price objective on shares of MEG Energy from C$13.00 to C$15.00 and gave the stock a “hold” rating in a research note on Thursday, January 13th. Tudor Pickering increased their price objective on shares of MEG Energy to C$15.00 and gave the stock a “hold” rating in a research note on Thursday, January 13th. BMO Capital Markets increased their price objective on shares of MEG Energy from C$22.00 to C$25.00 in a research note on Tuesday, May 3rd. Raymond James set a C$24.00 price objective on shares of MEG Energy and gave the stock an “outperform” rating in a research note on Tuesday, May 3rd. Finally, National Bankshares cut their price objective on shares of MEG Energy from C$32.00 to C$24.00 in a research note on Thursday, April 14th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, MEG Energy has a consensus rating of “Hold” and a consensus price target of C$19.95.

About MEG Energy (Get Rating)

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The company owns a 100% interest in approximately 410 square miles of mineral leases. It also 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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Insider Buying and Selling by Quarter for MEG Energy (TSE:MEG)

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