MEG Energy Corp. (TSE:MEG) Director Acquires C$195,993.00 in Stock

MEG Energy Corp. (TSE:MEG) Director Robert Ross Rooney bought 8,500 shares of MEG Energy stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost of C$23.06 per share, for a total transaction of C$195,993.00.

MEG Energy Stock Down 1.2 %

Shares of TSE MEG opened at C$22.18 on Friday. The business has a 50-day moving average price of C$25.29 and a 200 day moving average price of C$26.58. The stock has a market cap of C$5.98 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. MEG Energy Corp. has a 52-week low of C$22.15 and a 52-week high of C$33.70.

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

MEG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Monday, December 16th. MEG Energy’s dividend payout ratio is currently 19.05%.

Analysts Set New Price Targets

A number of brokerages have commented on MEG. ATB Capital dropped their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. TD Securities raised their price target on MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Scotiabank raised 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 report on Wednesday, September 25th. National Bankshares dropped their price objective on MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. Finally, Royal Bank of Canada decreased their target price on MEG Energy from C$34.00 to C$33.00 in a research note on Wednesday, November 27th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$32.45.

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.