MEG Energy Corp. (TSE:MEG) Senior Officer Erik Alexander Alson Sells 32,728 Shares

MEG Energy Corp. (TSE:MEG) Senior Officer Erik Alexander Alson sold 32,728 shares of the stock in a transaction on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$791,690.32.

MEG Energy Stock Up 1.5 %

Shares of TSE MEG opened at C$24.97 on Thursday. The company has a debt-to-equity ratio of 22.80, a current ratio of 1.55 and a quick ratio of 1.17. The firm’s 50-day moving average is C$23.41 and its two-hundred day moving average is C$24.55. MEG Energy Corp. has a 12-month low of C$19.77 and a 12-month high of C$33.70. The company has a market capitalization of C$6.47 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89.

MEG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, March 20th. MEG Energy’s dividend payout ratio (DPR) is presently 21.19%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank of Canada reduced their price objective on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. TD Securities lowered their price objective on shares of MEG Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Desjardins downgraded shares of MEG Energy from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$29.00 to C$26.50 in a research report on Wednesday. ATB Capital dropped their price target on shares of MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Finally, National Bankshares increased their target price on MEG Energy from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, MEG Energy has an average rating of “Hold” and a consensus price target of C$30.95.

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.