MEG Energy Corp. (TSE:MEG) Director Sells C$2,215,416.96 in Stock

MEG Energy Corp. (TSE:MEG) Director Darlene Miriam Gates sold 91,584 shares of the firm’s stock in a transaction that occurred on Saturday, March 15th. The stock was sold at an average price of C$24.19, for a total transaction of C$2,215,416.96.

MEG Energy Stock Up 1.5 %

Shares of TSE:MEG opened at C$24.97 on Thursday. The firm has a fifty day moving average price of C$23.41 and a two-hundred day moving average price of C$24.55. The company has a debt-to-equity ratio of 22.80, a current ratio of 1.55 and a quick ratio of 1.17. MEG Energy Corp. has a one year low of C$19.77 and a one year high of C$33.70. The company has a market cap of C$6.47 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.17 and a beta of 2.89.

MEG Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, March 20th. MEG Energy’s payout ratio is 21.19%.

Analysts Set New Price Targets

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

MEG Energy Company Profile

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.