MEG Energy Corp. (MEG) Receives Average Recommendation of “Buy” from Brokerages
Shares of MEG Energy Corp. (TSE:MEG) have received a consensus rating of “Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$7.15.
MEG has been the subject of several research reports. Scotiabank cut shares of MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 price objective for the company. in a report on Wednesday, November 15th. National Bank Financial upped their target price on shares of MEG Energy from C$4.75 to C$5.25 and gave the company a “sector perform” rating in a report on Friday, October 27th. Barclays upped their target price on shares of MEG Energy from C$5.00 to C$6.00 in a report on Friday, October 27th. CIBC upped their target price on shares of MEG Energy from C$4.50 to C$5.25 in a report on Tuesday, October 17th. Finally, GMP Securities upped their target price on shares of MEG Energy from C$5.50 to C$7.00 and gave the company a “buy” rating in a report on Monday, December 4th.
MEG Energy (TSE MEG) traded up C$0.04 on Monday, hitting C$5.40. 1,135,695 shares of the stock traded hands, compared to its average volume of 1,471,782. MEG Energy has a 1 year low of C$3.28 and a 1 year high of C$9.83.
MEG Energy Company Profile
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.
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