Shares of MEG Energy Corp. (TSE:MEG) traded down 0.2% during trading on Monday . The stock traded as low as C$5.63 and last traded at C$5.67. 426,795 shares were traded during trading, a decline of 71% from the average session volume of 1,469,771 shares. The stock had previously closed at C$5.66.
Several analysts recently commented on the stock. National Bank Financial raised their price target on shares of MEG Energy from C$4.75 to C$5.25 and gave the stock a “sector perform” rating in a report on Friday, October 27th. CIBC raised their price target on shares of MEG Energy from C$4.50 to C$5.25 in a report on Tuesday, October 17th. Barclays raised their price target on shares of MEG Energy from C$5.00 to C$6.00 in a report on Friday, October 27th. Finally, Scotiabank cut shares of MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 price target for the company. in a report on Wednesday, November 15th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of C$6.85.
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About MEG Energy
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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