MEG Energy Corp. (TSE:MEG) Director Sells C$120,195.00 in Stock

MEG Energy Corp. (TSE:MEG – Get Rating) Director James D. Mcfarland sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of C$24.04, for a total transaction of C$120,195.00. Following the completion of the transaction, the director now directly owns 4,009 shares in the company, valued at approximately C$96,372.35.

James D. Mcfarland also recently made the following trade(s):

• On Thursday, March 24th, James D. Mcfarland sold 20,000 shares of MEG Energy stock. The shares were sold at an average price of C$18.40, for a total transaction of C$368,000.00.

Shares of MEG stock traded down C$0.15 during midday trading on Thursday, reaching C$24.01. 2,109,594 shares of the company were exchanged, compared to its average volume of 2,881,649. MEG Energy Corp. has a 12 month low of C$6.85 and a 12 month high of C$24.47. The company has a market cap of C$7.38 billion and a P/E ratio of 11.41. The company’s 50 day moving average price is C$19.75 and its two-hundred day moving average price is C$16.26. The company has a debt-to-equity ratio of 64.62, a quick ratio of 1.15 and a current ratio of 1.58.

A number of equities research analysts recently weighed in on the stock. CIBC raised their price target on shares of MEG Energy from C$23.00 to C$26.00 and gave the company a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on shares of MEG Energy from C$23.00 to C$24.00 in a report on Wednesday, May 4th. Scotiabank lowered shares of MEG Energy from an “outperform” rating to a “hold” rating and raised their price target for the company from C$23.00 to C$26.00 in a report on Wednesday. Raymond James set a C$24.00 price objective on shares of MEG Energy and gave the stock an “outperform” rating in a report on Tuesday, May 3rd. Finally, BMO Capital Markets raised their price objective on shares of MEG Energy from C$22.00 to C$25.00 in a report on Tuesday, May 3rd. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MEG Energy has a consensus rating of “Hold” and a consensus price target of C$20.45.

About MEG Energy (Get Rating)

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The company owns a 100% interest in approximately 410 square miles of mineral leases. It also develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.

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