MEG Energy Corp (MEG) PT Raised to C$5.25
MEG Energy Corp (TSE:MEG) had its target price increased by research analysts at CIBC from C$4.50 to C$5.25 in a note issued to investors on Tuesday. CIBC’s price objective points to a potential downside of 3.85% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. TD Securities lifted their target price on shares of MEG Energy Corp from C$5.50 to C$6.00 and gave the stock a “hold” rating in a research note on Friday, July 28th. GMP Securities downgraded shares of MEG Energy Corp from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$8.50 to C$4.00 in a research note on Wednesday, June 28th. Finally, National Bank Financial reaffirmed a “sector perform” rating and set a C$4.75 target price on shares of MEG Energy Corp in a research note on Tuesday, June 27th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. MEG Energy Corp has a consensus rating of “Hold” and a consensus target price of C$7.30.
Shares of MEG Energy Corp (TSE MEG) opened at 5.46 on Tuesday. MEG Energy Corp has a 12 month low of $3.28 and a 12 month high of $9.83. The stock’s market capitalization is $1.61 billion. The stock’s 50 day moving average is $5.30 and its 200 day moving average is $5.17.
MEG Energy Corp (TSE:MEG) last posted its quarterly earnings results on Thursday, July 27th. The company reported C($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.17) by C$0.05. The firm had revenue of C$574.03 million for the quarter. MEG Energy Corp had a net margin of 18.17% and a return on equity of 10.88%. Analysts anticipate that MEG Energy Corp will post ($0.60) earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This news story was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/meg-energy-corp-meg-pt-raised-to-c5-25/1639784.html.
About MEG Energy Corp
MEG Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.
Receive News & Ratings for MEG Energy Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEG Energy Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.