MEG Energy (TSE:MEG) PT Lowered to C$7.00 at Royal Bank of Canada

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.

MEG Energy (TSE:MEG) last issued its quarterly earnings results on Monday, May 6th. The company reported C$0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.03 by C($0.01). The firm had revenue of C$918.63 million during the quarter, compared to analyst estimates of C$684.74 million. As a group, equities analysts expect that MEG Energy will post 0.21 earnings per share for the current year.

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.

See Also: Capital Gains Distribution

Analyst Recommendations for MEG Energy (TSE:MEG)

Receive News & Ratings for MEG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEG Energy and related companies with MarketBeat.com's FREE daily email newsletter.