MEG Energy Corp (TSE:MEG) had its price target boosted by RBC Capital Markets from C$10.00 to C$12.00 in a report issued on Wednesday. RBC Capital Markets currently has an outperform rating on the stock.
MEG has been the topic of a number of other reports. Royal Bank Of Canada upped their target price on shares of MEG Energy Corp from C$10.00 to C$12.00 and gave the stock an outperform rating in a research note on Wednesday, January 25th. Raymond James Financial, Inc. cut their target price on shares of MEG Energy Corp from C$9.00 to C$8.50 in a research note on Thursday, January 12th. CIBC cut their target price on shares of MEG Energy Corp from C$9.50 to C$8.00 in a research note on Wednesday, October 19th. Scotiabank restated an outperform rating and set a C$10.00 target price on shares of MEG Energy Corp in a research note on Friday, October 28th. Finally, Desjardins cut their target price on shares of MEG Energy Corp from C$10.00 to C$8.00 in a research note on Wednesday, December 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of C$9.39.
MEG Energy Corp (TSE:MEG) opened at 6.92 on Wednesday. The firm’s 50-day moving average is $8.46 and its 200-day moving average is $6.53. MEG Energy Corp has a 52-week low of $3.46 and a 52-week high of $9.83. The stock’s market capitalization is $1.57 billion.
In other news, insider Chi-Tak Yee acquired 5,000 shares of the firm’s stock in a transaction dated Friday, January 13th. The stock was acquired at an average cost of C$7.73 per share, with a total value of C$38,650.00.
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.