MEG Energy Corp. (TSE:MEG) Director Michael Mcallister Buys 7,400 Shares

MEG Energy Corp. (TSE:MEG - Get Free Report) Director Michael Mcallister bought 7,400 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of C$25.67 per share, with a total value of C$189,986.86.MEG Energy Trading Up 0.6 %MEG traded up C$0.15 during midday trading on Wednesday, hitting C$25.65. 480,805 shares of the company were exchanged, compared to its average volume of 1,619,994. The firm's 50 day moving average price is C$27.84 and its 200-day moving average price is C$29.21. MEG Energy Corp. has a 1-year low of C$22.79 and a 1-year high of C$33.70. The firm has a market capitalization of C$6.91 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.17 and a beta of 2.92. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. MEG Energy (TSE:MEG - Get Free Report) last released its earnings results on Thursday, July 25th. The company reported C$0.86 earnings per share for the quarter, beating analysts' consensus estimates of C$0.69 by C$0.17. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The business had revenue of C$2.74 billion during the quarter, compared to the consensus estimate of C$1.28 billion. As a group, equities analysts forecast that MEG Energy Corp. will post 2.4093357 EPS for the current fiscal year. MEG Energy Dividend AnnouncementThe company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, September 17th. MEG Energy's dividend payout ratio is presently 19.05%. Analysts Set New Price TargetsSeveral analysts recently weighed in on the company. Jefferies Financial Group dropped their price objective on MEG Energy from C$35.00 to C$32.00 and set a "hold" rating for the company in a research report on Monday, July 15th. Scotiabank raised their price target on shares of MEG Energy from C$34.00 to C$35.00 in a research note on Friday, July 12th. TD Securities raised shares of MEG Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 7th. Finally, Raymond James set a C$28.00 target price on shares of MEG Energy and gave the stock a "market perform" rating in a research note on Wednesday, May 29th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$34.00.Get Our Latest Research Report on MEG EnergyAbout MEG Energy (Get Free Report)MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.See AlsoFive stocks we like better than MEG EnergyShould You Add These Warren Buffett Stocks to Your Portfolio?Why Dick’s Could Be a Slam Dunk for Your Investment PortfolioWhat is the Australian Securities Exchange (ASX) Introduction to Fibonacci Retracement Levels Which Wall Street Analysts are the Most Accurate?Top 3 Stocks to Outperform the S&P 500 in a DownturnThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.→ Fmr CIA Advisor reveals PEACEMAKER superweapon (From Paradigm Press) (Ad)Should you invest $1,000 in MEG Energy right now?Before you consider MEG Energy, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MEG Energy wasn't on the list.While MEG Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here