MEG Energy (TSE:MEG) Price Target Raised to C$37.00 at BMO Capital Markets

MEG Energy (TSE:MEGFree Report) had its price target hoisted by BMO Capital Markets from C$35.00 to C$37.00 in a research note issued to investors on Thursday, BayStreet.CA reports.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of MEG Energy from C$33.00 to C$34.00 in a research note on Tuesday, March 12th. CIBC upped their target price on shares of MEG Energy from C$26.00 to C$30.00 and gave the stock a neutral rating in a research note on Friday, March 22nd. Desjardins upped their target price on shares of MEG Energy from C$30.00 to C$31.00 and gave the stock a hold rating in a research note on Friday, March 22nd. Royal Bank of Canada upped their target price on shares of MEG Energy from C$31.00 to C$32.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Finally, Jefferies Financial Group set a C$28.00 price objective on shares of MEG Energy and gave the company a hold rating in a report on Tuesday, February 27th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of C$31.00.

Get Our Latest Stock Report on MEG

MEG Energy Trading Up 0.8 %

MEG opened at C$31.10 on Thursday. The company’s 50 day moving average is C$27.16 and its 200-day moving average is C$25.99. MEG Energy has a 1-year low of C$19.41 and a 1-year high of C$31.44. The company has a current ratio of 1.48, a quick ratio of 1.17 and a debt-to-equity ratio of 30.55. The company has a market cap of C$8.46 billion, a P/E ratio of 15.71, a PEG ratio of 0.17 and a beta of 3.16.

MEG Energy (TSE:MEGGet Free Report) last posted its earnings results on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing the consensus estimate of C$0.59 by C($0.22). MEG Energy had a return on equity of 12.77% and a net margin of 10.06%. The business had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.40 billion. Equities research analysts predict that MEG Energy will post 2.3185638 earnings per share for the current fiscal year.

Insider Buying and Selling at MEG Energy

In other news, Director Derek Watson Evans sold 234,562 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of C$28.94, for a total transaction of C$6,788,247.74. In other news, Senior Officer David Michael Granger sold 32,144 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$30.47, for a total transaction of C$979,504.83. Also, Director Derek Watson Evans sold 234,562 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of C$28.94, for a total value of C$6,788,247.74. Insiders have sold 301,679 shares of company stock worth $8,825,336 over the last ninety days. Insiders own 0.63% of the company’s stock.

About MEG Energy

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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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