CIBC Increases MEG Energy Corp (MEG) Price Target to C$5.25
MEG has been the subject of a number of other reports. TD Securities upped their price target on shares of MEG Energy Corp from C$5.50 to C$6.00 and gave the stock a hold rating in a research report on Friday, July 28th. National Bank Financial reissued a sector perform rating and issued a C$4.75 target price on shares of MEG Energy Corp in a report on Tuesday, June 27th. Finally, GMP Securities downgraded shares of MEG Energy Corp from a buy rating to a hold rating and lowered their target price for the stock from C$8.50 to C$4.00 in a report on Wednesday, June 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of C$7.30.
Shares of MEG Energy Corp (MEG) opened at 5.40 on Tuesday. MEG Energy Corp has a 1-year low of $3.28 and a 1-year high of $9.83. The stock’s market capitalization is $1.59 billion. The firm has a 50-day moving average of $5.33 and a 200 day moving average of $5.16.
MEG Energy Corp (TSE:MEG) last posted its quarterly earnings results on Thursday, July 27th. The company reported C($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of C($0.17) by C$0.05. The business had revenue of C$574.03 million during the quarter. MEG Energy Corp had a net margin of 18.17% and a return on equity of 10.88%. Analysts predict that MEG Energy Corp will post ($0.60) EPS for the current year.
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About MEG Energy Corp
MEG Energy Corp (MEG) is a Canada-based oil sands company. It 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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