MEG Energy Corp (MEG) Receives Outperform Rating from Royal Bank Of Canada
Royal Bank Of Canada restated their outperform rating on shares of MEG Energy Corp (TSE:MEG) in a report published on Thursday morning. Royal Bank Of Canada currently has a C$11.00 price objective on the stock.
A number of other research analysts also recently commented on MEG. TD Securities increased their price objective on MEG Energy Corp from C$9.50 to C$10.00 and gave the company a speculative buy rating in a report on Friday, July 29th. Barclays PLC increased their price objective on MEG Energy Corp from C$6.00 to C$7.00 in a research report on Thursday, July 14th. Scotiabank reaffirmed an outperform rating and set a C$12.00 price objective on shares of MEG Energy Corp in a research report on Friday, July 29th. Desjardins set a C$8.00 price objective on MEG Energy Corp in a research report on Tuesday, June 28th. Finally, FirstEnergy Capital raised MEG Energy Corp from an underperform rating to a market perform rating in a research report on Thursday, June 23rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of C$9.45.
Shares of MEG Energy Corp (TSE:MEG) traded down 2.68% during midday trading on Thursday, reaching $5.80. The company’s stock had a trading volume of 466,717 shares. The stock’s 50-day moving average price is $5.64 and its 200-day moving average price is $6.19. The company’s market cap is $1.31 billion. MEG Energy Corp has a 12-month low of $3.46 and a 12-month high of $13.15.
MEG Energy Corp Company Profile
MEG Energy Corp. (MEG) is an oil sands company. The Company is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.
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