MEG Energy (TSE:MEG) had its price objective cut by Royal Bank of Canada from C$7.50 to C$7.00 in a report issued on Thursday morning, BayStreet.CA reports.
MEG has been the topic of a number of other research reports. CSFB restated a neutral rating and set a C$32.00 price target on shares of Vermilion Energy in a research note on Tuesday, July 16th. Raymond James dropped their price target on Adaptimmune Therapeutics from $16.00 to $6.00 and set an outperform rating on the stock in a research note on Tuesday, May 7th. CIBC reiterated a hold rating and issued a $2.50 target price on shares of Advantage Oil & Gas in a research report on Thursday. Goldman Sachs Group upped their target price on MEG Energy from C$6.00 to C$7.00 in a research report on Tuesday, April 16th. Finally, Tudor Pickering & Holt reiterated a hold rating on shares of MEG Energy in a research report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of C$8.00.
Shares of MEG stock opened at C$5.29 on Thursday. MEG Energy has a fifty-two week low of C$4.06 and a fifty-two week high of C$11.70. The stock has a market capitalization of $1.57 billion and a price-to-earnings ratio of -5.10. The company has a debt-to-equity ratio of 102.93, a current ratio of 1.33 and a quick ratio of 1.12. The business’s 50-day simple moving average is C$4.95.
In other MEG Energy news, Senior Officer Grant Kenneth Donald Borbridge sold 9,927 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of C$4.34, for a total value of C$43,083.18. Following the sale, the insider now owns 31,972 shares in the company, valued at approximately C$138,758.48. Also, Director Robert Bruce Hodgins sold 7,033 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of C$4.34, for a total value of C$30,523.22. Following the completion of the sale, the director now owns 9,796 shares in the company, valued at approximately C$42,514.64.
About MEG Energy
MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta.
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