The stock of MEG Energy Corp (TSE:MEG) is a huge mover today! About 1.08M shares traded hands. MEG Energy Corp (TSE:MEG) has declined 9.86% since March 24, 2016 and is downtrending. It has underperformed by 13.33% the S&P500.
The move comes after 7 months negative chart setup for the $1.18 billion company. It was reported on Oct, 31 by Barchart.com. We have $4.98 PT which if reached, will make TSE:MEG worth $94.40M 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. Meg Energy Corp. has been the topic of 25 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Friday, October 28 by Scotia Capital. As per Friday, April 29, the company rating was maintained by RBC Capital Markets. The firm earned “Outperform” rating on Wednesday, June 8 by RBC Capital Markets. Desjardins Securities maintained MEG Energy Corp (TSE:MEG) on Tuesday, June 28 with “” rating. The stock has “Outperform” rating given by RBC Capital Markets on Friday, February 5. The rating was maintained by TD Securities with “Speculative Buy” on Friday, July 15. Raymond James maintained the stock with “” rating in Monday, June 6 report. The company was maintained on Friday, October 28 by TD Securities. The rating was maintained by Scotia Capital with “Outperform” on Friday, July 29.
More notable recent MEG Energy Corp (TSE:MEG) news were published by: Theglobeandmail.com which released: “MEG Energy posts smaller loss, helped by cost cuts” on October 27, 2016, also Reuters.com with their article: “MEG Energy posts unexpectedly larger loss, cuts capital spending” published on October 27, 2016, Reuters.com published: “MEG Energy reports smaller loss, helped by cost cuts” on October 27, 2016. More interesting news about MEG Energy Corp (TSE:MEG) were released by: Fool.ca and their article: “Is MEG Energy Corp. a Bargain at Less Than $7 Per Share?” published on January 11, 2016 as well as Fool.ca‘s news article titled: “Can MEG Energy Corp. Survive?” with publication date: April 25, 2016.
Meg Energy Corp is a Canada-based oil sands company. The company has a market cap of $1.18 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.
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