MEG Energy (TSE:MEG) Given New C$31.00 Price Target at National Bankshares

MEG Energy (TSE:MEG) had its price target trimmed by National Bankshares from C$35.00 to C$31.00 in a report issued on Friday, BayStreet.CA reports.

A number of other research firms have also issued reports on MEG. Royal Bank of Canada lowered their target price on MEG Energy from C$39.00 to C$35.00 in a research note on Tuesday, September 17th. TD Securities raised shares of MEG Energy from a hold rating to a strong-buy rating in a research report on Friday, June 7th. Scotiabank raised shares of MEG Energy from a sector perform rating to an outperform rating and set a C$35.00 target price on the stock in a research report on Wednesday. Finally, Jefferies Financial Group lowered their price target on shares of MEG Energy from C$32.00 to C$26.00 and set a hold rating for the company in a report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of C$32.55.

MEG Energy Stock Up 2.3 %

MEG opened at C$24.91 on Friday. The company has a market cap of C$6.71 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.17 and a beta of 2.92. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54. MEG Energy has a 1 year low of C$22.79 and a 1 year high of C$33.70. The firm has a 50 day moving average price of C$26.53 and a 200 day moving average price of C$28.88.

MEG Energy (TSE:MEG) last issued its earnings results on Thursday, July 25th. The company reported C$0.86 EPS for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.17. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The business had revenue of C$2.74 billion for the quarter, compared to the consensus estimate of C$1.28 billion. Sell-side analysts expect that MEG Energy will post 2.2403101 earnings per share for the current year.

MEG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.40 dividend on an annualized basis and a yield of 1.61%. MEG Energy’s dividend payout ratio (DPR) is 19.05%.

Insider Buying and Selling at MEG Energy

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

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.