MEG Energy (TSE:MEG – Free Report) had its price target lifted by CIBC from C$30.00 to C$34.00 in a research note published on Monday, BayStreet.CA reports. The firm currently has a neutral rating on the stock.
A number of other research firms have also recently weighed in on MEG. Desjardins upped their price target on shares of MEG Energy from C$30.00 to C$31.00 and gave the stock a hold rating in a research note on Friday, March 22nd. BMO Capital Markets upped their price target on shares of MEG Energy from C$35.00 to C$37.00 in a research note on Thursday, March 28th. TD Securities upped their price target on shares of MEG Energy from C$28.00 to C$32.00 and gave the stock a hold rating in a research note on Friday, March 1st. JPMorgan Chase & Co. increased their price objective on shares of MEG Energy from C$33.00 to C$34.00 in a research note on Tuesday, March 12th. Finally, National Bankshares increased their price objective on shares of MEG Energy from C$32.00 to C$37.00 and gave the company a sector perform rating in a research note on Friday, April 19th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of C$33.09.
View Our Latest Research Report on MEG
MEG Energy Stock Down 0.4 %
MEG Energy (TSE:MEG – Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.22). MEG Energy had a return on equity of 12.77% and a net margin of 10.06%. The firm had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.40 billion. On average, analysts forecast that MEG Energy will post 2.3198041 earnings per share for the current year.
Insider Transactions at MEG Energy
In other news, Senior Officer David Michael Granger sold 32,144 shares of MEG Energy stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. In other news, Senior Officer David Michael Granger sold 32,144 shares of MEG Energy stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. Also, Senior Officer Erik Alexander Alson sold 34,528 shares of MEG Energy stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$30.24, for a total transaction of C$1,044,126.72. Insiders sold a total of 301,679 shares of company stock worth $8,825,336 over the last ninety days. 0.63% of the stock is currently owned by corporate insiders.
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.
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