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.

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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.

Analyst Recommendations for MEG Energy Corp (TSE:MEG)

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