MEG Energy Corp. (MEG) To Go Ex-Dividend on December 16th

MEG Energy Corp. (TSE:MEG) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.10 per share on Wednesday, January 15th. This represents a $0.40 annualized dividend and a yield of 1.48%. The ex-dividend date is Monday, December 16th.

MEG Energy Price Performance

Shares of TSE:MEG traded down C$0.30 during trading on Thursday, reaching C$27.03. The stock had a trading volume of 82,609 shares, compared to its average volume of 1,655,403. The business has a fifty day moving average price of C$25.95 and a 200-day moving average price of C$27.93. MEG Energy has a 1-year low of C$22.79 and a 1-year high of C$33.70. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54. The stock has a market cap of C$7.28 billion, a PE ratio of 13.01, a PEG ratio of 0.17 and a beta of 2.89.

MEG Energy (TSE:MEG) last announced its earnings results on Tuesday, November 5th. The company reported C$0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.63 by C($0.01). The business 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%. On average, equities analysts forecast that MEG Energy will post 2.2734628 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MEG. Scotiabank raised shares of MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective for the company in a research note on Wednesday, September 25th. National Bankshares dropped their price target on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Jefferies Financial Group reduced their price objective on MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. BMO Capital Markets lowered their price objective on MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. Finally, TD Securities raised their target price on MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$32.64.

Insider Activity

In related news, Director Michael Mcallister acquired 7,400 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of C$25.67 per share, with a total value of C$189,986.86. In other news, Director Michael Mcallister bought 7,400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of C$25.67 per share, with a total value of C$189,986.86. Also, Director James D. Mcfarland bought 5,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was purchased at an average cost of C$26.94 per share, with a total value of C$134,700.00. Insiders own 0.33% of the company’s stock.

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.