MEG Energy Corp. (MEG) Stock Price Down 2.5%
Shares of MEG Energy Corp. (TSE:MEG) were down 2.5% on Tuesday . The stock traded as low as C$6.25 and last traded at C$6.26. Approximately 387,089 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,497,525 shares. The stock had previously closed at C$6.42.
Several analysts have recently weighed in on MEG shares. CIBC reduced their target price on MEG Energy Corp. from C$8.00 to C$4.50 in a report on Thursday, July 20th. Barclays PLC boosted their target price on MEG Energy Corp. from C$5.00 to C$6.00 in a report on Friday, October 27th. TD Securities boosted their target price on MEG Energy Corp. from C$5.50 to C$6.00 and gave the company a “hold” rating in a report on Friday, July 28th. Finally, National Bank Financial boosted their target price on MEG Energy Corp. from C$4.75 to C$5.25 and gave the company a “sector perform” rating in a report on Friday, October 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. MEG Energy Corp. has an average rating of “Buy” and a consensus target price of C$7.15.
About MEG Energy Corp.
MEG Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.
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