MEG Energy (TSE:MEG) Price Target Lowered to C$6.00 at Goldman Sachs Group

MEG Energy (TSE:MEG) had its target price lowered by Goldman Sachs Group from C$7.00 to C$6.00 in a report published on Tuesday morning, BayStreet.CA reports.

Several other equities analysts have also recently weighed in on MEG. Raymond James reaffirmed a market perform rating and issued a C$8.00 price target on shares of MEG Energy in a research report on Wednesday, July 31st. UBS Group lifted their target price on shares of MEG Energy from C$5.50 to C$6.00 in a research report on Monday, September 23rd. CSFB reaffirmed a neutral rating and issued a C$7.00 price target on shares of MEG Energy in a report on Tuesday, July 16th. JPMorgan Chase & Co. lowered their price target on shares of MEG Energy from C$6.50 to C$6.00 in a report on Wednesday, September 11th. Finally, National Bank Financial lowered their price target on shares of MEG Energy from C$8.50 to C$8.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of C$7.12.

Shares of MEG opened at C$4.88 on Tuesday. The company has a debt-to-equity ratio of 102.53, a current ratio of 1.88 and a quick ratio of 1.67. The stock has a 50-day moving average of C$5.54 and a 200-day moving average of C$5.30. The company has a market cap of $1.42 billion and a PE ratio of -7.53. MEG Energy has a one year low of C$4.06 and a one year high of C$10.75.

MEG Energy (TSE:MEG) last issued its earnings results on Tuesday, July 30th. The company reported C($0.04) EPS for the quarter. The firm had revenue of C$1.04 billion during the quarter. Analysts expect that MEG Energy will post 0.1601621 EPS for the current fiscal year.

In other news, Director William Robert Klesse acquired 12,800 shares of the stock in a transaction dated Friday, August 16th. The stock was purchased at an average cost of C$4.64 per share, with a total value of C$59,423.23. Following the completion of the purchase, the director now owns 262,800 shares in the company, valued at approximately C$1,220,033.23.

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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Analyst Recommendations for MEG Energy (TSE:MEG)

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