MEG Energy Corp (OTCMKTS:MEGEF)’s stock price rose 2.8% during mid-day trading on Monday . The stock traded as high as $4.78 and last traded at $4.75, approximately 560 shares changed hands during mid-day trading. A decline of 98% from the average daily volume of 28,699 shares. The stock had previously closed at $4.62.
MEGEF has been the topic of several research analyst reports. Credit Suisse Group initiated coverage on MEG Energy in a research note on Monday, July 15th. They issued a “neutral” rating on the stock. Tudor Pickering cut MEG Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $11.00.
The business has a fifty day simple moving average of $3.89 and a two-hundred day simple moving average of $3.95.
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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