MEG Energy Corp. (TSE:MEG) Senior Officer Buys C$19,962.47 in Stock

MEG Energy Corp. (TSE:MEG) Senior Officer Mark Anand Telang acquired 805 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average price of C$24.80 per share, for a total transaction of C$19,962.47.

MEG Energy Price Performance

MEG stock opened at C$23.80 on Friday. The stock has a 50-day moving average price of C$26.02 and a two-hundred day moving average price of C$27.04. The company has a market cap of C$6.41 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. MEG Energy Corp. has a 12-month low of C$22.79 and a 12-month 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.

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

MEG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, December 16th. MEG Energy’s dividend payout ratio is presently 19.05%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MEG. ATB Capital decreased their price objective on MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. Royal Bank of Canada decreased their price objective on MEG Energy from C$34.00 to C$33.00 in a report on Wednesday, November 27th. BMO Capital Markets decreased their price objective on MEG Energy from C$37.00 to C$34.00 in a report on Friday, October 4th. TD Securities boosted their price target on 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, Scotiabank raised MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price target for the company in a research report on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$32.45.

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.