Is MEG Energy Corp a Buy? The Stock Rises Again

 Is MEG Energy Corp a Buy? The Stock Rises Again

The stock of MEG Energy Corp (TSE:MEG) is a huge mover today! About 293,541 shares traded hands. MEG Energy Corp (TSE:MEG) has declined 15.73% since April 22, 2016 and is downtrending. It has underperformed by 21.75% the S&P500.
The move comes after 7 months positive chart setup for the $1.34B company. It was reported on Nov, 28 by Barchart.com. We have $6.55 PT which if reached, will make TSE:MEG worth $80.40M 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 43.85% above today’s ($6.18) stock price. Meg Energy Corp. has been the topic of 25 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Friday, April 29 the stock rating was maintained by RBC Capital Markets with “Outperform”. The company was maintained on Friday, July 15 by TD Securities. The stock of MEG Energy Corp (TSE:MEG) has “Outperform” rating given on Friday, July 29 by Scotia Capital. As per Friday, October 28, the company rating was maintained by TD Securities. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, June 8. The stock of MEG Energy Corp (TSE:MEG) has “” rating given on Tuesday, June 28 by Desjardins Securities. The company was maintained on Monday, June 6 by Raymond James. The stock of MEG Energy Corp (TSE:MEG) earned “Outperform” rating by Scotia Capital on Friday, October 28. The firm earned “Outperform” rating on Friday, February 5 by RBC Capital Markets.

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 Seekingalpha.com with their article: “Why I Chose MEG Energy Over Encana” published on March 22, 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: Fool.ca and their article: “Can MEG Energy Corp. Survive?” published on April 25, 2016 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 $1.34 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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