Is MEG Energy Corp a Sell? The Stock Declines Again


The stock of MEG Energy Corp (TSE:MEG) is a huge mover today! About 1.92 million shares traded hands or 26.32% up from the average. MEG Energy Corp (TSE:MEG) has risen 10.52% since February 5, 2016 and is uptrending. It has underperformed by 5.97% the S&P500.
The move comes after 6 months negative chart setup for the $1.22 billion company. It was reported on Sep, 13 by We have $5.06 PT which if reached, will make TSE:MEG worth $85.40M less.

Out of 5 analysts covering Meg Energy Corp. (TSE:MEG), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. $20 is the highest target while $5 is the lowest. The $9.31 average target is 71.14% above today’s ($5.44) stock price. Meg Energy Corp. has been the topic of 19 analyst reports since September 18, 2015 according to StockzIntelligence Inc.

MEG Energy Corp. is an oil sands company. The company has a market cap of $1.22 billion. The Firm is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. It currently has negative earnings. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.

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