Darlene Miriam Gates Sells 91,584 Shares of MEG Energy Corp. (TSE:MEG) Stock

MEG Energy Corp. (TSE:MEG) Director Darlene Miriam Gates sold 91,584 shares of the firm’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 value of C$2,215,416.96.

MEG Energy Stock Performance

Shares of MEG Energy stock opened at C$24.85 on Friday. MEG Energy Corp. has a one year low of C$19.77 and a one year high of C$33.70. The company has a market cap of C$6.44 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.17 and a beta of 2.89. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. The business’s 50 day moving average price is C$23.41 and its 200 day moving average price is C$24.54.

MEG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 1.61%. MEG Energy’s dividend payout ratio (DPR) is 21.19%.

Analyst Upgrades and Downgrades

MEG has been the topic of several research reports. Royal Bank of Canada decreased their target price on MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. TD Securities decreased their target price on 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. ATB Capital decreased their target price on MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Desjardins downgraded MEG Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from C$29.00 to C$26.50 in a research report on Wednesday. Finally, National Bankshares lifted their price objective 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. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$30.95.

About MEG Energy

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.