BMO Capital Markets Raises MEG Energy (TSE:MEG) Price Target to C$26.00

MEG Energy (TSE:MEG – Get Rating) had its price target hoisted by BMO Capital Markets from C$25.00 to C$26.00 in a report issued on Tuesday morning, BayStreet.CA reports.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. dropped their target price on MEG Energy from C$23.00 to C$22.00 in a report on Thursday, January 19th. Raymond James dropped their target price on MEG Energy from C$22.00 to C$21.00 and set an outperform rating on the stock in a report on Monday, January 16th. Royal Bank of Canada boosted their target price on MEG Energy from C$22.00 to C$23.00 and gave the stock an outperform rating in a report on Thursday, November 10th. CIBC dropped their target price on MEG Energy from C$22.00 to C$20.00 in a report on Tuesday, January 17th. Finally, TD Securities upped their price target on MEG Energy from C$19.00 to C$21.00 and gave the company a hold rating in a report on Thursday, November 10th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of C$23.22.

MEG Energy Stock Performance

MEG opened at C$21.56 on Tuesday. The business’s 50 day moving average is C$20.34 and its 200-day moving average is C$18.91. The stock has a market cap of C$6.42 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 0.17 and a beta of 2.91. The company has a current ratio of 1.63, a quick ratio of 1.17 and a debt-to-equity ratio of 46.49. MEG Energy has a twelve month low of C$13.91 and a twelve month high of C$24.47.

MEG Energy Company Profile

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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.