The stock of MEG Energy Corp (TSE:MEG) is a huge mover today! About 153,299 shares traded hands. MEG Energy Corp (TSE:MEG) has declined 4.11% since April 18, 2016 and is downtrending. It has underperformed by 8.67% the S&P500.
The move comes after 9 months negative chart setup for the $1.49B company. It was reported on Nov, 22 by Barchart.com. We have $5.94 PT which if reached, will make TSE:MEG worth $74.50 million 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 42.24% above today’s ($6.25) stock price. Meg Energy Corp. has been the topic of 25 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Raymond James maintained MEG Energy Corp (TSE:MEG) rating on Monday, June 6. Raymond James has “” rating and $10 price target. On Tuesday, June 28 the stock rating was maintained by Desjardins Securities with “”. RBC Capital Markets maintained MEG Energy Corp (TSE:MEG) rating on Friday, April 29. RBC Capital Markets has “Outperform” rating and $11 price target. Scotia Capital maintained the shares of MEG in a report on Friday, October 28 with “Outperform” rating. RBC Capital Markets maintained MEG Energy Corp (TSE:MEG) rating on Friday, February 5. RBC Capital Markets has “Outperform” rating and $11 price target. The rating was maintained by Scotia Capital on Friday, July 29 with “Outperform”. The stock of MEG Energy Corp (TSE:MEG) has “Speculative Buy” rating given on Friday, October 28 by TD Securities. TD Securities maintained MEG Energy Corp (TSE:MEG) on Friday, July 15 with “Speculative Buy” rating. The rating was maintained by RBC Capital Markets on Wednesday, June 8 with “Outperform”.
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, Seekingalpha.com published: “Why I Chose MEG Energy Over Encana” on March 22, 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 Moodys.com‘s news article titled: “Moody’s downgrades MEG’s CFR to Caa2; outlook negative” with publication date: February 03, 2016.
Meg Energy Corp is a Canada-based oil sands company. The company has a market cap of $1.49 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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