MEG Energy Corp (TSE:MEG) was downgraded by investment analysts at FirstEnergy Capital from an “outperform” rating to a “market perform” rating in a report released on Wednesday.
Several other brokerages have also recently issued reports on MEG. Royal Bank Of Canada reissued an “outperform” rating and set a C$11.00 target price on shares of MEG Energy Corp in a report on Wednesday, June 8th. Morgan Stanley raised their target price on shares of MEG Energy Corp from C$8.00 to C$9.00 in a report on Monday, June 13th. TD Securities reissued a “speculative buy” rating and set a C$10.00 target price on shares of MEG Energy Corp in a report on Friday, July 15th. Barclays PLC lifted their price objective on shares of MEG Energy Corp from C$6.00 to C$7.00 in a report on Thursday, July 14th. Finally, Desjardins set a C$8.00 price objective on shares of MEG Energy Corp in a report on Tuesday, June 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of C$9.45.
MEG Energy Corp (TSE:MEG) opened at 5.96 on Wednesday. The stock has a 50 day moving average price of $5.64 and a 200 day moving average price of $6.19. The stock’s market cap is $1.35 billion. MEG Energy Corp has a 12-month low of $3.46 and a 12-month high of $13.15.
About MEG Energy Corp
MEG Energy Corp. (MEG) is an oil sands company. The Company 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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