MEG Energy Corp (TSE:MEG) was downgraded by investment analysts at FirstEnergy Capital from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday.
MEG has been the subject of several other research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a C$11.00 price objective on shares of MEG Energy Corp in a research report on Wednesday, June 8th. Raymond James Financial Inc. set a C$10.00 target price on MEG Energy Corp in a report on Monday, June 6th. Desjardins set a C$8.00 target price on MEG Energy Corp in a report on Tuesday, June 28th. Morgan Stanley increased their target price on MEG Energy Corp from C$8.00 to C$9.00 in a report on Monday, June 13th. Finally, Barclays PLC increased their target price on MEG Energy Corp from C$6.00 to C$7.00 in a report on Thursday, July 14th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of C$9.45.
Shares of MEG Energy Corp (TSE:MEG) traded up 5.59% during trading on Wednesday, reaching $5.86. 2,565,045 shares of the company were exchanged. The company’s market capitalization is $1.33 billion. MEG Energy Corp has a one year low of $3.46 and a one year high of $13.15. The firm’s 50 day moving average price is $5.63 and its 200 day moving average price is $6.19.
MEG Energy Corp Company Profile
MEG Energy Corp. (MEG) is an oil sands company. The Company is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.
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