MEG Energy (TSE:MEG – Get Free Report) had its target price lifted by equities researchers at National Bankshares from C$32.00 to C$37.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bankshares’ target price points to a potential upside of 18.10% from the stock’s previous close.
Several other analysts have also commented on MEG. Jefferies Financial Group raised their price objective on MEG Energy from C$28.00 to C$35.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. BMO Capital Markets raised their price target on MEG Energy from C$35.00 to C$37.00 in a report on Thursday, March 28th. ATB Capital upped their price objective on shares of MEG Energy from C$32.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. lifted their target price on shares of MEG Energy from C$33.00 to C$34.00 in a research note on Tuesday, March 12th. Finally, CIBC upped their price target on shares of MEG Energy from C$26.00 to C$30.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MEG Energy currently has a consensus rating of “Hold” and an average price target of C$32.73.
Read Our Latest Analysis on MEG
MEG Energy Stock Up 0.2 %
MEG Energy (TSE:MEG – Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing the consensus estimate of C$0.59 by C($0.22). MEG Energy had a return on equity of 12.77% and a net margin of 10.06%. The firm had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.40 billion. On average, research analysts expect that MEG Energy will post 2.3198041 earnings per share for the current year.
Insider Buying and Selling
In other MEG Energy news, Director Derek Watson Evans sold 234,562 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of C$28.94, for a total value of C$6,788,247.74. In other news, Senior Officer David Michael Granger sold 32,144 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. Also, Director Derek Watson Evans sold 234,562 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of C$28.94, for a total transaction of C$6,788,247.74. Insiders sold a total of 301,679 shares of company stock valued at $8,825,336 over the last 90 days. Insiders own 0.63% of the company’s stock.
About MEG Energy
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.
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