Shares of MEG Energy Corp. (TSE:MEG – Get Free Report) have been given an average recommendation of “Hold” by the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$34.00.
A number of research analysts recently issued reports on the company. Scotiabank boosted their price objective on MEG Energy from C$34.00 to C$35.00 in a research note on Friday, July 12th. Raymond James set a C$28.00 price objective on shares of MEG Energy and gave the stock a “market perform” rating in a research note on Wednesday, May 29th. TD Securities upgraded shares of MEG Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Jefferies Financial Group cut their price target on MEG Energy from C$35.00 to C$32.00 and set a “hold” rating for the company in a research note on Monday, July 15th.
Check Out Our Latest Stock Report on MEG Energy
MEG Energy Trading Down 5.0 %
MEG Energy (TSE:MEG – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported C$0.86 earnings per share for the quarter, beating the consensus estimate of C$0.69 by C$0.17. The company had revenue of C$2.74 billion for the quarter, compared to the consensus estimate of C$1.28 billion. MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. As a group, equities analysts anticipate that MEG Energy will post 2.4093357 earnings per share for the current year.
MEG Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.40 annualized dividend and a dividend yield of 1.57%. MEG Energy’s dividend payout ratio (DPR) is 19.05%.
Insider Activity
In other MEG Energy news, Director James D. Mcfarland acquired 5,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of C$26.94 per share, with a total value of C$134,700.00. Corporate insiders own 0.33% of the company’s stock.
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.
See Also
- Five stocks we like better than MEG Energy
- Energy and Oil Stocks Explained
- 3 Small Cap Stocks That Insiders Are Buying
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- Analysts Forecast Big Upside for Western Digital—Don’t Miss Out
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- 3 Must-Own Stocks for Bullish Investors in Today’s Market
Receive News & Ratings for MEG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEG Energy and related companies with MarketBeat.com's FREE daily email newsletter.