The stock of MEG Energy Corp (TSE:MEG) is a huge mover today! About 252,813 shares traded hands. MEG Energy Corp (TSE:MEG) has declined 10.52% since March 11, 2016 and is downtrending. It has underperformed by 16.00% the S&P500.
The move comes after 7 months positive chart setup for the $1.27B company. It was reported on Oct, 18 by Barchart.com. We have $8.41 PT which if reached, will make TSE:MEG worth $596.90 million more.
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. RBC Capital Markets maintained MEG Energy Corp (TSE:MEG) rating on Friday, April 29. RBC Capital Markets has “Outperform” rating and $11 price target. The company was maintained on Friday, July 15 by TD Securities. Raymond James maintained the shares of MEG in a report on Monday, June 6 with “” rating. The stock of MEG Energy Corp (TSE:MEG) has “Outperform” rating given on Wednesday, June 8 by RBC Capital Markets. The stock of MEG Energy Corp (TSE:MEG) has “Outperform” rating given on Friday, February 5 by RBC Capital Markets. Scotia Capital maintained it with “Outperform” rating and $12 target price in Friday, July 29 report. On Tuesday, June 28 the stock rating was maintained by Desjardins Securities with “”.
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 Moodys.com with their article: “Moody’s downgrades MEG’s CFR to B1; outlook stable” published on October 01, 2015, Fool.ca published: “Can MEG Energy Corp. Survive?” on April 25, 2016. 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 $1.27 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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