Erik Alexander Alson Sells 32,728 Shares of MEG Energy Corp. (TSE:MEG) Stock

MEG Energy Corp. (TSE:MEG) Senior Officer Erik Alexander Alson sold 32,728 shares of the company’s stock in a transaction that occurred on Saturday, March 15th. The shares were sold at an average price of C$24.19, for a total transaction of C$791,690.32.

MEG Energy Stock Performance

TSE MEG opened at C$24.97 on Thursday. The company has a debt-to-equity ratio of 22.80, a current ratio of 1.55 and a quick ratio of 1.17. MEG Energy Corp. has a 1-year low of C$19.77 and a 1-year high of C$33.70. The firm has a market capitalization of C$6.47 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.17 and a beta of 2.89. The business’s 50-day simple moving average is C$23.41 and its 200-day simple moving average is C$24.55.

MEG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.60%. MEG Energy’s dividend payout ratio (DPR) is 21.19%.

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of recent analyst reports. ATB Capital reduced their price target on MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. National Bankshares increased their target price on MEG Energy from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Royal Bank of Canada decreased their price target on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. Desjardins downgraded shares of MEG Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$29.00 to C$26.50 in a research note on Wednesday. Finally, TD Securities decreased their target price on shares of MEG Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, MEG Energy has an average rating of “Hold” and a consensus target price of C$30.95.

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.