Is Buying Stock Like MEG Energy Corp After Such Increase Winning Strategy?

 Is Buying Stock Like MEG Energy Corp After Such Increase Winning Strategy?

The stock of MEG Energy Corp (TSE:MEG) is a huge mover today! About 235,678 shares traded hands. MEG Energy Corp (TSE:MEG) has declined 17.60% since March 30, 2016 and is downtrending. It has underperformed by 18.82% the S&P500.
The move comes after 9 months positive chart setup for the $1.21B company. It was reported on Nov, 3 by Barchart.com. We have $6.40 PT which if reached, will make TSE:MEG worth $242.00M 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 $8.89 average target is 66.79% above today’s ($5.33) stock price. Meg Energy Corp. has been the topic of 25 analyst reports since July 29, 2015 according to StockzIntelligence Inc. As per Monday, June 6, the company rating was maintained by Raymond James. RBC Capital Markets maintained MEG Energy Corp (TSE:MEG) rating on Wednesday, June 8. RBC Capital Markets has “Outperform” rating and $11 price target. TD Securities maintained MEG Energy Corp (TSE:MEG) on Friday, July 15 with “Speculative Buy” rating. The company was maintained on Friday, October 28 by TD Securities. As per Friday, April 29, the company rating was maintained by RBC Capital Markets. The firm has “Outperform” rating given on Friday, February 5 by RBC Capital Markets. The stock of MEG Energy Corp (TSE:MEG) has “Outperform” rating given on Friday, October 28 by Scotia Capital. The rating was maintained by Desjardins Securities on Tuesday, June 28 with “”. The firm has “Outperform” rating given on Friday, July 29 by Scotia Capital.

More notable recent MEG Energy Corp (TSE:MEG) news were published by: Fool.ca which released: “Will MEG Energy Corp. Triple?” on November 01, 2016, also Theglobeandmail.com with their article: “MEG Energy posts smaller loss, helped by cost cuts” published on October 27, 2016, Fool.ca published: “Is MEG Energy Corp. a Bargain at Less Than $7 Per Share?” on January 11, 2016. More interesting news about MEG Energy Corp (TSE:MEG) were released by: Reuters.com and their article: “MEG Energy posts unexpectedly larger loss, cuts capital spending” published on October 27, 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 $1.21 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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