The stock of MEG Energy Corp (TSE:MEG) is a huge mover today! About 268,675 shares traded hands. MEG Energy Corp (TSE:MEG) has declined 13.99% since April 7, 2016 and is downtrending. It has underperformed by 20.13% the S&P500.
The move comes after 9 months negative chart setup for the $1.16B company. It was reported on Nov, 11 by Barchart.com. We have $4.91 PT which if reached, will make TSE:MEG worth $69.60M 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 $8.89 average target is 70.31% above today’s ($5.22) stock price. Meg Energy Corp. has been the topic of 25 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The rating was maintained by Scotia Capital on Friday, October 28 with “Outperform”. RBC Capital Markets maintained MEG Energy Corp (TSE:MEG) on Friday, April 29 with “Outperform” rating. The firm earned “Outperform” rating on Friday, February 5 by RBC Capital Markets. The rating was maintained by Desjardins Securities on Tuesday, June 28 with “”. The rating was maintained by RBC Capital Markets on Wednesday, June 8 with “Outperform”. The company was maintained on Monday, June 6 by Raymond James. The company was maintained on Friday, July 15 by TD Securities. The stock has “Outperform” rating given by Scotia Capital on Friday, July 29. On Friday, October 28 the stock rating was maintained by TD Securities with “Speculative Buy”.
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: “Will MEG Energy Corp. Triple?” published on November 01, 2016, Theglobeandmail.com published: “MEG Energy posts 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: “Can MEG Energy Corp. Survive?” published on April 25, 2016 as well as Business.Financialpost.com‘s news article titled: “MEG Energy Corp shares surge as investors position seek out potential takeover …” with publication date: October 05, 2015.
Meg Energy Corp is a Canada-based oil sands company. The company has a market cap of $1.16 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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