MEG Energy Corp. (OTCMKTS:MEGEF) Given Average Recommendation of “Hold” by Brokerages

MEG Energy Corp. (OTCMKTS:MEGEFGet Rating) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.56.

A number of equities analysts have recently issued reports on the company. National Bank Financial raised their price target on MEG Energy from C$24.00 to C$32.00 in a research note on Thursday, April 14th. BMO Capital Markets raised their price objective on MEG Energy from C$22.00 to C$25.00 in a research report on Tuesday, May 3rd. Royal Bank of Canada raised their price objective on MEG Energy from C$21.00 to C$22.00 in a research report on Wednesday, May 4th. TD Securities lifted their price target on MEG Energy from C$21.00 to C$23.00 in a research report on Tuesday, May 3rd. Finally, Scotiabank lowered MEG Energy from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, June 8th.

MEG Energy stock opened at $14.66 on Thursday. The stock’s 50 day moving average is $16.06 and its 200 day moving average is $13.35. MEG Energy has a twelve month low of $5.23 and a twelve month high of $19.90.

MEG Energy Company Profile (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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Analyst Recommendations for MEG Energy (OTCMKTS:MEGEF)

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