MEG Energy Corp. (TSE:MEG) Director Purchases C$189,986.86 in Stock

MEG Energy Corp. (TSE:MEG) Director Michael Mcallister purchased 7,400 shares of the business’s stock in a transaction dated 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.

MEG Energy Stock Performance

MEG Energy Corp. 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 current ratio of 1.54 and a quick ratio of 1.17. The firm has a fifty day moving average of C$27.77 and a 200 day moving average of C$29.20. The firm has a market cap of C$6.70 billion, a P/E ratio of 11.87, a PEG ratio of 0.17 and a beta of 2.92.

MEG Energy (TSE:MEG) last posted its quarterly earnings results on Thursday, July 25th. The company reported C$0.86 EPS for the quarter, topping the consensus estimate of C$0.69 by C$0.17. The business had revenue of C$2.74 billion during the quarter, compared to the consensus estimate of C$1.28 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. As a group, equities research analysts forecast that MEG Energy Corp. will post 2.4093357 earnings per share for the current year.

MEG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.40 annualized dividend and a dividend yield of ?. MEG Energy’s dividend payout ratio (DPR) is 19.05%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MEG. Raymond James set a C$28.00 price target on shares of MEG Energy and gave the stock a “market perform” rating in a report on Wednesday, May 29th. TD Securities upgraded shares of MEG Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, June 7th. Jefferies Financial Group cut their price target on shares of MEG Energy from C$35.00 to C$32.00 and set a “hold” rating for the company in a report on Monday, July 15th. Finally, Scotiabank lifted their target price on shares of MEG Energy from C$34.00 to C$35.00 in a report on Friday, July 12th. Seven analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$34.00.

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.