MEG Energy Corp. (TSE:MEG) Director Kimberley Elizabeth Lynch Proctor Buys 3,500 Shares

MEG Energy Corp. (TSE:MEG) Director Kimberley Elizabeth Lynch Proctor acquired 3,500 shares of MEG Energy stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average cost of C$25.06 per share, for a total transaction of C$87,713.85.

MEG Energy Trading Up 0.9 %

TSE MEG traded up C$0.23 on Thursday, reaching C$25.05. 189,226 shares of the company were exchanged, compared to its average volume of 1,673,151. The stock has a market capitalization of C$6.75 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. MEG Energy Corp. has a fifty-two week low of C$22.79 and a fifty-two week high of C$33.70. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 26.35. The business’s fifty day moving average price is C$26.11 and its 200 day moving average price is C$27.33.

MEG Energy (TSE:MEG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.01). MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The company had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. Analysts forecast that MEG Energy Corp. will post 2.2734628 earnings per share for the current year.

MEG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $0.10 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.60%. MEG Energy’s dividend payout ratio is presently 19.05%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. ATB Capital reduced their price target on MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday. National Bankshares lowered their price target on shares of MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. Jefferies Financial Group decreased their price objective on shares of MEG Energy from C$32.00 to C$26.00 and set a “hold” rating for the company in a research note on Monday, September 16th. TD Securities boosted their price target on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets lowered their price objective on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, MEG Energy currently has an average rating of “Hold” and a consensus price target of C$32.45.

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.