MEG Energy (TSE:MEG) Rating Reiterated by CSFB

CSFB reissued their neutral rating on shares of MEG Energy (TSE:MEG) in a report issued on Tuesday morning, BayStreet.CA reports. CSFB currently has a C$7.00 price target on the stock.

A number of other equities research analysts also recently issued reports on MEG. National Bank Financial reduced their price target on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. GMP Securities reiterated a buy rating and set a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Raymond James reduced their price target on shares of Adaptimmune Therapeutics from $16.00 to $6.00 and set an outperform rating for the company in a research report on Tuesday, May 7th. CIBC reduced their price target on shares of WestJet Airlines from C$22.00 to C$21.00 in a research report on Tuesday, April 23rd. Finally, Goldman Sachs Group raised their price objective on shares of MEG Energy from C$6.00 to C$7.00 in a research note on Tuesday, April 16th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of C$8.00.

MEG stock opened at C$5.29 on Tuesday. The firm’s 50 day moving average is C$4.95. MEG Energy has a 12-month low of C$4.06 and a 12-month high of C$11.70. The company has a debt-to-equity ratio of 102.93, a quick ratio of 1.12 and a current ratio of 1.33. The firm has a market cap of $1.54 billion and a P/E ratio of -5.10.

MEG Energy (TSE:MEG) last posted its quarterly earnings results on Monday, May 6th. The company reported C$0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.03 by C($0.01). The firm had revenue of C$918.63 million for the quarter, compared to the consensus estimate of C$684.74 million. As a group, equities research analysts expect that MEG Energy will post 0.21 earnings per share for the current year.

In other MEG Energy news, Senior Officer Grant Kenneth Donald Borbridge sold 9,927 shares of MEG Energy stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of C$4.34, for a total value of C$43,083.18. Following the completion of the sale, the insider now directly owns 31,972 shares of the company’s stock, valued at approximately C$138,758.48. Also, Director Robert Bruce Hodgins sold 7,033 shares of MEG Energy stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of C$4.34, for a total transaction of C$30,523.22. Following the completion of the sale, the director now directly owns 9,796 shares of the company’s stock, valued at C$42,514.64.

MEG Energy Company Profile

MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta.

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Analyst Recommendations for MEG Energy (TSE:MEG)

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