MEG Energy Corp. (TSE:MEG) Senior Officer Sells C$791,690.32 in Stock

MEG Energy Corp. (TSE:MEG) Senior Officer Erik Alexander Alson sold 32,728 shares of the firm’s stock in a transaction on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total value of C$791,690.32.

MEG Energy Trading Up 1.3 %

MEG traded up C$0.32 on Wednesday, hitting C$24.92. The company had a trading volume of 1,799,356 shares, compared to its average volume of 2,814,642. The company has a market cap of C$6.46 billion, a PE ratio of 13.20, a PEG ratio of 0.17 and a beta of 2.89. MEG Energy Corp. has a 12-month low of C$19.77 and a 12-month high of C$33.70. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 22.80. The business’s fifty day simple moving average is C$23.39 and its 200 day simple moving average is C$24.57.

MEG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.61%. MEG Energy’s dividend payout ratio (DPR) is presently 21.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MEG shares. Royal Bank of Canada lowered their target price on MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. Desjardins downgraded MEG Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from C$29.00 to C$26.50 in a research report on Wednesday. TD Securities lowered their target price on MEG Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. National Bankshares lifted their target price on MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. Finally, ATB Capital decreased their price target on MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$30.95.

About MEG Energy

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.