MEG Energy (TSE:MEG) Shares Cross Above 50 Day Moving Average – Should You Sell?

MEG Energy Corp. (TSE:MEG)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$30.89 and traded as high as C$31.03. MEG Energy shares last traded at C$30.89, with a volume of 6,350,674 shares.

MEG Energy Stock Up 0.7%

The company has a current ratio of 1.73, a quick ratio of 1.17 and a debt-to-equity ratio of 22.34. The firm has a market cap of C$7.86 billion, a PE ratio of 14.64, a P/E/G ratio of 0.17 and a beta of 0.45. The business’s 50-day simple moving average is C$30.89 and its 200 day simple moving average is C$30.32.

MEG Energy Company Profile

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.