The stock of MEG Energy Corp (TSE:MEG) is a huge mover today! About 885,110 shares traded hands. MEG Energy Corp (TSE:MEG) has risen 3.19% since March 10, 2016 and is uptrending. It has underperformed by 2.43% the S&P500.
The move comes after 5 months negative chart setup for the $1.30 billion company. It was reported on Oct, 17 by Barchart.com. We have $5.43 PT which if reached, will make TSE:MEG worth $65.00 million less.
MEG Energy Corp (TSE:MEG) Ratings Coverage
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. $23 is the highest target while $5 is the lowest. The $9.31 average target is 62.76% above today’s ($5.72) stock price. Meg Energy Corp. has been the topic of 22 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of MEG Energy Corp (TSE:MEG) earned “” rating by Raymond James on Monday, June 6. The stock of MEG Energy Corp (TSE:MEG) has “Speculative Buy” rating given on Friday, July 15 by TD Securities. The firm has “Outperform” rating by Scotia Capital given on Friday, July 29. The rating was maintained by RBC Capital Markets on Wednesday, June 8 with “Outperform”. The rating was maintained by Desjardins Securities on Tuesday, June 28 with “”. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, April 29 report. RBC Capital Markets maintained MEG Energy Corp (TSE:MEG) rating on Friday, February 5. RBC Capital Markets has “Outperform” rating and $11 price target.
More notable recent MEG Energy Corp (TSE:MEG) news were published by: Fool.ca which released: “Is MEG Energy Corp. a Bargain at Less Than $7 Per Share?” on January 11, 2016, also Fool.ca with their article: “Can MEG Energy Corp. Survive?” published on April 25, 2016, Moodys.com published: “Moody’s downgrades MEG’s CFR to B1; outlook stable” on October 01, 2015. More interesting news about MEG Energy Corp (TSE:MEG) were released by: Business.Financialpost.com and their article: “MEG Energy Corp shares surge as investors position seek out potential takeover …” published on October 05, 2015 as well as Seekingalpha.com‘s news article titled: “Why I Chose MEG Energy Over Encana” with publication date: March 22, 2016.
Meg Energy Corp is a Canada-based oil sands company. The company has a market cap of $1.30 billion. It 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.
MEG Company Profile
Media General, Inc., formerly Mercury New Holdco, Inc., incorporated on March 19, 2014, is a connected-screen multimedia company. The Firm provides news, information and entertainment. The Company’s operating divisions include Broadcast and Digital. The Company’s Broadcast segment includes over 70 television stations that are either owned, operated or serviced by the Company in approximately 48 United States markets, all of which are engaged principally in the sale of television advertising. The Company’s Digital segment includes the operating results of the Company’s digital businesses, as well as the business related to the television station companion Websites. Digital segment includes LIN Digital, LIN Mobile, LLC (LIN Mobile), HYFN, Inc. (HYFN), Dedicated Media, Inc. (Dedicated Media), BiteSize TV and Federated Media, as well as the business related to the television station companion Websites.
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