MEG Energy Corp (TSE:MEG)’s share price dropped 6.6% during mid-day trading on Friday . The company traded as low as C$4.77 and last traded at C$4.78. Approximately 964,296 shares were traded during trading, a decline of 66% from the average daily volume of 2,849,433 shares. The stock had previously closed at C$5.12.

MEG has been the topic of a number of recent research reports. GMP Securities dropped their price target on MEG Energy from C$9.25 to C$8.50 in a research report on Wednesday, May 8th. UBS Group dropped their price target on MEG Energy from C$8.70 to C$6.00 in a research report on Tuesday, March 12th. Raymond James reissued a “market perform” rating and set a C$9.00 price target on shares of MEG Energy in a research report on Friday, March 8th. CIBC raised their price objective on MEG Energy from C$6.50 to C$7.50 in a research report on Tuesday, April 23rd. Finally, Tudor Pickering & Holt reaffirmed a “hold” rating on shares of MEG Energy in a research report on Friday, June 7th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of C$8.21.

The company has a quick ratio of 1.12, a current ratio of 1.33 and a debt-to-equity ratio of 102.93. The stock has a market cap of $1.35 billion and a price-to-earnings ratio of -4.65.

In other MEG Energy news, Director Robert Bruce Hodgins sold 7,033 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of C$4.34, for a total value of C$30,523.22. Following the completion of the sale, the director now owns 9,796 shares of the company’s stock, valued at C$42,514.64. Also, Senior Officer Grant Kenneth Donald Borbridge sold 9,927 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of C$4.34, for a total value of C$43,083.18. Following the completion of the sale, the insider now directly owns 31,972 shares of the company’s stock, valued at approximately C$138,758.48.

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MEG Energy Company Profile (TSE:MEG)

MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta.

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