Brokerages Set MEG Energy Corp (TSE:MEG) PT at C$6.85
MEG Energy Corp (TSE:MEG) has earned an average rating of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$6.85.
A number of brokerages recently commented on MEG. Raymond James set a C$6.50 price objective on shares of MEG Energy and gave the stock a “market perform” rating in a research note on Tuesday, November 26th. Goldman Sachs Group dropped their target price on MEG Energy from C$7.00 to C$6.00 in a research report on Tuesday, October 22nd. UBS Group increased their target price on MEG Energy from C$5.50 to C$6.00 in a research report on Monday, September 23rd. CSFB lifted their price target on MEG Energy from C$7.00 to C$8.00 in a report on Friday, November 22nd. Finally, Morgan Stanley lowered MEG Energy from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from C$7.00 to C$5.00 in a research report on Wednesday, October 23rd.
TSE MEG traded down C$0.01 during trading on Friday, reaching C$6.28. 209,570 shares of the company’s stock traded hands, compared to its average volume of 2,537,620. MEG Energy has a 12-month low of C$4.06 and a 12-month high of C$8.62. The company has a debt-to-equity ratio of 92.61, a current ratio of 1.52 and a quick ratio of 1.25. The firm has a market cap of $1.88 billion and a price-to-earnings ratio of -6.55. The company’s 50 day simple moving average is C$5.42 and its two-hundred day simple moving average is C$5.20.
MEG Energy Company Profile
MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta.
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