MEG Energy (TSE:MEG) Shares Climb 0.7% – What’s Next?

MEG Energy Corp. (TSE:MEG)’s stock price rose 0.7% during mid-day trading on Tuesday. The company traded as high as C$31.03 and last traded at C$30.89. Approximately 6,350,674 shares were traded during mid-day trading, an increase of 241% from the average session volume of 1,863,733 shares. The stock had previously closed at C$30.67.

MEG Energy Trading Up 0.7%

The stock has a market capitalization of C$7.86 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.17 and a beta of 0.45. The firm has a 50-day moving average price of C$30.89 and a 200-day moving average price of C$30.89. The company has a current ratio of 1.73, a quick ratio of 1.17 and a debt-to-equity ratio of 22.34.

About MEG Energy

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.