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.
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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