MEG Energy Corp. (OTCMKTS:MEGEF) Sees Large Drop in Short Interest

MEG Energy Corp. (OTCMKTS:MEGEF) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 10,203,900 shares, a drop of 23.4% from the February 28th total of 13,316,700 shares. Based on an average trading volume of 355,500 shares, the days-to-cover ratio is currently 28.7 days.

MEG Energy Stock Down 0.3 %

OTCMKTS:MEGEF opened at $17.40 on Monday. The company has a 50-day moving average price of $16.40 and a 200-day moving average price of $17.41. MEG Energy has a 12 month low of $13.78 and a 12 month high of $24.59.

MEG Energy Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 21st will be issued a $0.0693 dividend. The ex-dividend date is Thursday, March 20th. This represents a yield of 1.61%.

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.