MEG Energy Corp. (TSE:MEG) Director Buys C$87,713.85 in Stock

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

MEG Energy Trading Up 0.8 %

TSE MEG opened at C$25.20 on Friday. MEG Energy Corp. has a one year low of C$22.79 and a one year high of C$33.70. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54. The firm’s fifty day moving average is C$26.10 and its two-hundred day moving average is C$27.25. The firm has a market cap of C$6.79 billion, a PE ratio of 12.00, a P/E/G ratio of 0.17 and a beta of 2.89.

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

MEG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Monday, December 16th. MEG Energy’s dividend payout ratio is currently 19.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MEG. TD Securities lifted their price objective 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. Royal Bank of Canada decreased their price objective on shares of MEG Energy from C$34.00 to C$33.00 in a research report on Wednesday. BMO Capital Markets decreased their price objective on shares of MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. National Bankshares decreased their price objective on shares of MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Finally, Scotiabank raised shares of MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective for the company in a research report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$32.45.

About MEG Energy

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.