MEG Energy (TSE:MEG) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

MEG Energy Corp. (TSE:MEG) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$30.89 and traded as high as C$31.03. MEG Energy shares last traded at C$30.89, with a volume of 6,350,674 shares trading hands.

MEG Energy Stock Performance

The company has a debt-to-equity ratio of 22.34, a quick ratio of 1.17 and a current ratio of 1.73. The firm has a market cap of C$7.86 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.17 and a beta of 0.45. The business’s 50 day moving average price is C$30.89 and its 200-day moving average price is C$30.89.

MEG Energy Company Profile

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.