MEG Energy (TSE:MEG) Shares Cross Above 50-Day Moving Average – Here’s What Happened

MEG Energy Corp. (TSE:MEG) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$30.89 and traded as high as C$31.03. MEG Energy shares last traded at C$30.89, with a volume of 6,350,674 shares.

MEG Energy Price Performance

The stock has a 50 day moving average of C$30.89 and a two-hundred day moving average of C$29.86. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. The firm has a market capitalization of C$7.86 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.17 and a beta of 0.45.

About MEG Energy

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.