MEG Energy Corp. (TSE:MEG – Get Free Report) has received a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$33.09.
Several brokerages recently weighed in on MEG. National Bankshares raised their target price on MEG Energy from C$32.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Friday, April 19th. Royal Bank of Canada increased their price target on MEG Energy from C$32.00 to C$39.00 in a research report on Tuesday, April 9th. TD Securities increased their price target on MEG Energy from C$28.00 to C$32.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Jefferies Financial Group increased their price target on MEG Energy from C$28.00 to C$35.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Finally, BMO Capital Markets increased their price target on MEG Energy from C$35.00 to C$37.00 in a research report on Thursday, March 28th.
View Our Latest Research Report on MEG
MEG Energy Trading Down 0.4 %
MEG Energy (TSE:MEG – Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing the consensus estimate of C$0.59 by C($0.22). MEG Energy had a net margin of 10.06% and a return on equity of 12.77%. The firm had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.40 billion. Equities analysts predict that MEG Energy will post 2.3198041 earnings per share for the current year.
Insider Transactions at MEG Energy
In other news, Senior Officer Erik Alexander Alson sold 34,528 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$30.24, for a total transaction of C$1,044,126.72. In related news, Senior Officer Erik Alexander Alson sold 34,528 shares of the firm’s stock in a transaction that occurred on 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. Also, Director Derek Watson Evans sold 234,562 shares of the firm’s stock in a transaction that occurred 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 sold 301,679 shares of company stock valued at $8,825,336 in the last three months. Corporate insiders own 0.63% of the company’s stock.
About MEG Energy
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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