Great Lakes Advisors LLC purchased a new position in MEG Energy Corp. (OTCMKTS:MEGEF – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 46,874 shares of the company’s stock, valued at approximately $5,933,000.
A number of other institutional investors have also recently added to or reduced their stakes in MEGEF. J.Safra Asset Management Corp bought a new stake in MEG Energy in the 2nd quarter valued at about $592,000. Trust Co. of Vermont acquired a new stake in shares of MEG Energy in the second quarter valued at approximately $137,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of MEG Energy during the second quarter valued at approximately $457,000. 50.51% of the stock is currently owned by institutional investors.
MEG Energy Stock Performance
Shares of OTCMKTS MEGEF opened at $21.96 on Thursday. The firm’s 50-day simple moving average is $21.96 and its 200 day simple moving average is $21.96. MEG Energy Corp. has a fifty-two week low of $12.00 and a fifty-two week high of $22.14.
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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