MEG Energy (MEG) Earns “Market Perform” Rating from BMO Capital Markets

MEG Energy (TSE:MEG)‘s stock had its “market perform” rating reissued by stock analysts at BMO Capital Markets in a note issued to investors on Friday. They currently have a C$6.00 price objective on the stock. BMO Capital Markets’ target price would suggest a potential upside of 25.52% from the company’s current price.

A number of other analysts also recently issued reports on the company. Eight Capital set a C$8.00 target price on MEG Energy and gave the stock a “buy” rating in a research report on Thursday, January 11th. National Bank Financial raised their target price on MEG Energy from C$5.25 to C$6.25 and gave the stock a “sector perform” rating in a research report on Tuesday, January 9th. GMP Securities raised their target price on MEG Energy from C$5.50 to C$7.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Royal Bank of Canada raised their target price on MEG Energy from C$8.00 to C$9.00 in a research report on Friday, February 9th. Finally, Barclays raised their target price on MEG Energy from C$5.00 to C$7.00 in a research report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of C$7.00.

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Shares of MEG Energy (TSE MEG) opened at C$4.78 on Friday. The company has a market capitalization of $1,420.00, a price-to-earnings ratio of 8.54 and a beta of 2.44. MEG Energy has a fifty-two week low of C$3.28 and a fifty-two week high of C$7.27.

MEG Energy (TSE:MEG) last issued its quarterly earnings results on Thursday, February 8th. The company reported C$0.15 EPS for the quarter. MEG Energy had a negative return on equity of 2.40% and a negative net margin of 3.15%. The business had revenue of C$755.00 million for the quarter.

In other MEG Energy news, insider Pincus & Co. Warburg sold 21,782,705 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of C$4.85, for a total value of C$105,646,119.25.

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About MEG Energy

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 (TSE:MEG)

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