MEG Energy (TSE:MEG) Trading Down 2.5% After Analyst Downgrade

Market Beat
2025.04.13 16:24
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MEG Energy's stock (TSE:MEG) fell 2.5% to C$18.98 after CIBC downgraded its price target from C$32.00 to C$28.00. The trading volume dropped 70% from the average, with 811,807 shares traded. Analysts have mixed ratings, with five holding, one buying, and one strong buy. The company also declared a quarterly dividend of $0.10, yielding 2.11%. MEG Energy focuses on oil sands development in Alberta, Canada, with significant reserves and production levels.

MEG Energy Corp. (TSE:MEG - Get Free Report)'s stock price fell 2.5% during trading on Friday after CIBC lowered their price target on the stock from C$32.00 to C$28.00. The stock traded as low as C$18.59 and last traded at C$18.98. 811,807 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,713,631 shares. The stock had previously closed at C$19.47.

MEG has been the subject of a number of other reports. Scotiabank upgraded MEG Energy to a "strong-buy" rating in a report on Wednesday, March 19th. National Bankshares boosted their target price on MEG Energy from C$27.00 to C$28.00 and gave the stock a "sector perform" rating in a report on Thursday, January 30th. Royal Bank of Canada dropped their target price on shares of MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. TD Securities decreased their price objective on MEG Energy from C$33.00 to C$32.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Desjardins lowered MEG Energy from a "buy" rating to a "hold" rating and decreased their target price for the stock from C$29.00 to C$26.50 in a research report on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, MEG Energy presently has a consensus rating of "Hold" and a consensus target price of C$30.35.

Get Our Latest Analysis on MEG Energy

Insider Buying and Selling

In other MEG Energy news, Senior Officer Erik Alexander Alson sold 32,728 shares of the firm's stock in a transaction on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$791,690.32. Also, Director Darlene Miriam Gates sold 91,584 shares of the stock in a transaction dated Saturday, March 15th. The shares were sold at an average price of C$24.19, for a total transaction of C$2,215,416.96. 0.33% of the stock is currently owned by corporate insiders.

MEG Energy Stock Performance

The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. The firm has a market capitalization of C$4.92 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.17 and a beta of 2.89. The company has a fifty day moving average of C$23.05 and a two-hundred day moving average of C$24.30.

MEG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, March 20th. MEG Energy's dividend payout ratio (DPR) is presently 21.19%.

MEG Energy Company Profile

(Get Free Report)

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.

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