MEG Energy Corp. (OTCMKTS:MEGEF – Get Free Report) shares crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $21.96 and traded as low as $21.96. MEG Energy shares last traded at $21.96, with a volume of 22,880 shares.
Analysts Set New Price Targets
Separately, TD Securities cut MEG Energy to a “sell” rating in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.
Read Our Latest Stock Analysis on MEG Energy
MEG Energy Price Performance
About MEG Energy
MEG Energy is an independent Canadian oil sands company headquartered in Calgary, Alberta. The company’s principal operations center on the development and production of bitumen through steam-assisted gravity drainage (SAGD) technology. MEG Energy’s flagship asset is the Christina Lake project in northeast Alberta, where it produces and upgrades bitumen into synthetic crude oil for sale to North American refineries.
Christina Lake is developed in multiple phases, each designed to optimize thermal efficiency and maintain strong environmental controls.
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