MEG Energy (TSE:MEG) Given Outperform Rating at Royal Bank of Canada
MEG Energy (TSE:MEG)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a research note issued to investors on Tuesday, Stock Target Advisor reports. They currently have a C$9.00 price objective on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 33.33% from the company’s current price.
A number of other analysts have also recently commented on the company. Tudor Pickering & Holt boosted their price target on MEG Energy from C$5.50 to C$7.00 and gave the stock a “hold” rating in a research report on Thursday, March 4th. Tudor Pickering reissued a “hold” rating and issued a C$5.50 target price on shares of MEG Energy in a report on Thursday, January 14th. Raymond James raised their price target on MEG Energy from C$8.50 to C$10.50 and gave the company an “outperform” rating in a report on Wednesday, March 17th. Eight Capital lifted their price target on MEG Energy to C$9.00 and gave the stock a “na” rating in a research report on Wednesday, February 17th. Finally, TD Securities raised shares of MEG Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from C$7.00 to C$9.50 in a research report on Wednesday, March 24th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of C$6.84.
TSE:MEG opened at C$6.75 on Tuesday. The firm has a market capitalization of C$2.04 billion and a P/E ratio of -5.71. The company has a debt-to-equity ratio of 91.22, a current ratio of 1.12 and a quick ratio of 0.89. MEG Energy has a one year low of C$2.14 and a one year high of C$8.10. The company’s 50-day simple moving average is C$6.79 and its 200 day simple moving average is C$4.56.
MEG Energy Company Profile
MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in the southern Athabasca region of Alberta, Canada. The company owns a 100% interest in approximately 450 square miles of mineral leases. It is developing oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.
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