Erik Alexander Alson Sells 32,728 Shares of MEG Energy Corp. (TSE:MEG) Stock

MEG Energy Corp. (TSE:MEG) Senior Officer Erik Alexander Alson sold 32,728 shares of the company’s stock in a transaction dated Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$791,690.32.

MEG Energy Price Performance

Shares of TSE MEG opened at C$24.85 on Friday. MEG Energy Corp. has a twelve month low of C$19.77 and a twelve month high of C$33.70. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 22.80. The company has a market capitalization of C$6.44 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.17 and a beta of 2.89. The firm has a 50-day moving average of C$23.41 and a two-hundred day moving average of C$24.54.

MEG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Thursday, March 20th. MEG Energy’s payout ratio is 21.19%.

Analyst Ratings Changes

MEG has been the subject of several recent research reports. TD Securities lowered their price target on shares of MEG Energy from C$33.00 to C$32.00 and set a “buy” rating for the company in a research report on Friday, February 28th. National Bankshares increased their target price on shares of MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. ATB Capital decreased their target price on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Royal Bank of Canada decreased their target price on shares of MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. Finally, Desjardins lowered shares of MEG Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from C$29.00 to C$26.50 in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$30.95.

About MEG Energy

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.