Darlene Miriam Gates Sells 91,584 Shares of MEG Energy Corp. (TSE:MEG) Stock

MEG Energy Corp. (TSE:MEG) Director Darlene Miriam Gates sold 91,584 shares of the firm’s stock in a transaction that occurred on Saturday, March 15th. The shares were sold at an average price of C$24.19, for a total transaction of C$2,215,416.96.

MEG Energy Stock Performance

Shares of MEG traded up C$0.32 during mid-day trading on Wednesday, reaching C$24.92. 1,028,469 shares of the company’s stock were exchanged, compared to its average volume of 2,802,165. 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 stock has a market capitalization of C$6.46 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The business’s fifty day simple moving average is C$23.39 and its 200-day simple moving average is C$24.57. MEG Energy Corp. has a 52-week low of C$19.77 and a 52-week high of C$33.70.

MEG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.61%. MEG Energy’s dividend payout ratio (DPR) is presently 21.19%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MEG. Royal Bank of Canada cut their price objective on shares of MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. National Bankshares raised their price objective on shares of MEG Energy from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. TD Securities cut 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 report on Friday, February 28th. Desjardins raised shares of MEG Energy from a “hold” rating to a “moderate buy” rating in a report on Tuesday, January 28th. Finally, ATB Capital cut their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$31.40.

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.