What Next for MEG Energy Corp Stock After Today’s Huge Increase?

 What Next for MEG Energy Corp Stock After Today's Huge Increase?

The stock of MEG Energy Corp (TSE:MEG) is a huge mover today! About 632,649 shares traded hands. MEG Energy Corp (TSE:MEG) has declined 19.07% since April 11, 2016 and is downtrending. It has underperformed by 23.00% the S&P500.
The move comes after 5 months positive chart setup for the $1.42 billion company. It was reported on Nov, 15 by Barchart.com. We have $9.00 PT which if reached, will make TSE:MEG worth $681.60 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 $8.89 average target is 46.22% above today’s ($6.08) stock price. Meg Energy Corp. has been the topic of 25 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of MEG Energy Corp (TSE:MEG) earned “Speculative Buy” rating by TD Securities on Friday, October 28. The stock of MEG Energy Corp (TSE:MEG) has “Outperform” rating given on Friday, February 5 by RBC Capital Markets. The stock has “Speculative Buy” rating given by TD Securities on Friday, July 15. On Wednesday, June 8 the stock rating was maintained by RBC Capital Markets with “Outperform”. The rating was maintained by Scotia Capital with “Outperform” on Friday, October 28. On Monday, June 6 the stock rating was maintained by Raymond James with “”. The stock has “Outperform” rating given by Scotia Capital on Friday, July 29. The company was maintained on Friday, April 29 by RBC Capital Markets. As per Tuesday, June 28, the company rating was maintained by Desjardins Securities.

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, Business.Financialpost.com published: “MEG Energy Corp shares surge as investors position seek out potential takeover …” on October 05, 2015. More interesting news about MEG Energy Corp (TSE:MEG) were released by: Business.Financialpost.com and their article: “MEG Energy Corp posts big loss and cuts its capital budget” published on October 28, 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 $1.42 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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