MEG Energy (TSE:MEG – Free Report) had its price target upped by TD Securities from C$31.00 to C$32.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.
MEG has been the subject of several other reports. National Bankshares lifted their target price on shares of MEG Energy from C$32.00 to C$37.00 and gave the company a sector perform rating in a report on Friday, April 19th. Royal Bank of Canada lifted their price objective on MEG Energy from C$32.00 to C$39.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on MEG Energy from C$33.00 to C$34.00 in a research note on Tuesday, March 12th. BMO Capital Markets raised their price target on MEG Energy from C$35.00 to C$37.00 in a report on Thursday, March 28th. Finally, CIBC upped their price target on shares of MEG Energy from C$30.00 to C$34.00 and gave the stock a neutral rating in a research note on Monday, April 22nd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, MEG Energy currently has an average rating of Hold and a consensus target price of C$33.09.
Check Out Our Latest Analysis on MEG
MEG Energy Price Performance
MEG Energy (TSE:MEG – Get Free Report) last released its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.22). The business had revenue of C$1.44 billion during the quarter, compared to analysts’ expectations of C$1.40 billion. MEG Energy had a return on equity of 12.77% and a net margin of 10.06%. Research analysts expect that MEG Energy will post 2.3198041 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Senior Officer David Michael Granger sold 32,144 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. In other news, Senior Officer David Michael Granger sold 32,144 shares of the firm’s stock in a transaction dated 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, Senior Officer Erik Alexander Alson sold 34,528 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$30.24, for a total value of C$1,044,126.72. In the last three months, insiders have sold 301,679 shares of company stock valued at $8,825,336. Corporate insiders own 0.63% of the company’s stock.
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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