MEG Energy Corp. (TSE:MEG) Director Purchases C$195,993.00 in Stock

MEG Energy Corp. (TSE:MEG) Director Robert Ross Rooney purchased 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of C$23.06 per share, with a total value of C$195,993.00.

MEG Energy Price Performance

MEG Energy stock opened at C$22.18 on Friday. The company has a market capitalization of C$5.98 billion, a PE ratio of 10.56, a P/E/G ratio of 0.17 and a beta of 2.89. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 26.35. The stock has a 50-day moving average price of C$25.29 and a two-hundred day moving average price of C$26.58. MEG Energy Corp. has a 12 month low of C$22.15 and a 12 month high of C$33.70.

MEG Energy (TSE:MEG) last posted its earnings results on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing the consensus estimate of C$0.63 by C($0.01). MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The business had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. Analysts expect that MEG Energy Corp. will post 2.2734628 EPS for the current year.

MEG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be issued a $0.10 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.80%. MEG Energy’s payout ratio is 19.05%.

Analysts Set New Price Targets

Several equities analysts have recently commented on MEG shares. TD Securities boosted their target price on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Jefferies Financial Group lowered their price objective on shares of MEG Energy from C$32.00 to C$26.00 and set a “hold” rating for the company in a research report on Monday, September 16th. National Bankshares reduced their target price on MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. ATB Capital lowered their price target on MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. Finally, Royal Bank of Canada reduced their price objective on MEG Energy from C$34.00 to C$33.00 in a research note on Wednesday, November 27th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, MEG Energy has an average rating of “Moderate Buy” and an average target price of C$32.45.

MEG Energy Company Profile

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.