MEG Energy Corp. (TSE:MEG) Director Kimberley Elizabeth Lynch Proctor Purchases 3,500 Shares

MEG Energy Corp. (TSE:MEG) Director Kimberley Elizabeth Lynch Proctor bought 3,500 shares of the firm’s stock in a transaction on Thursday, November 28th. The stock was purchased at an average price of C$25.06 per share, with a total value of C$87,713.85.

MEG Energy Trading Up 0.7 %

Shares of TSE:MEG opened at C$25.00 on Friday. The company has a 50 day moving average of C$26.11 and a 200-day moving average of C$27.29. The firm has a market cap of C$6.74 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.17 and a beta of 2.89. MEG Energy Corp. has a twelve month low of C$22.79 and a twelve month high of C$33.70. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 26.35.

MEG Energy (TSE:MEG) last released 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 net margin of 10.43% and a return on equity of 12.99%. The business had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. As a group, analysts anticipate that MEG Energy Corp. will post 2.2734628 earnings per share for the current fiscal year.

MEG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, December 16th. MEG Energy’s dividend payout ratio is presently 19.05%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Securities upped their target price on shares of MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Scotiabank upgraded shares of MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 target price for the company in a research report on Wednesday, September 25th. National Bankshares decreased their target price on shares of MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. BMO Capital Markets decreased their target price on shares of MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Finally, Jefferies Financial Group decreased their target price 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.