MEG Energy (TSE:MEG) had its target price decreased by UBS Group from C$8.70 to C$6.00 in a report released on Tuesday morning, www.baystreet.ca reports.
Several other analysts also recently commented on MEG. Morgan Stanley decreased their price objective on shares of MEG Energy from C$11.00 to C$10.00 in a research report on Tuesday, November 20th. CIBC cut their target price on shares of MEG Energy from C$12.00 to C$9.50 in a research note on Thursday, November 22nd. National Bank Financial cut their target price on shares of MEG Energy from C$12.00 to C$9.50 and set a sector perform rating for the company in a research note on Monday, December 10th. JPMorgan Chase & Co. cut their target price on shares of MEG Energy from C$9.50 to C$7.00 in a research note on Tuesday, December 11th. Finally, GMP Securities cut their target price on shares of MEG Energy from C$12.50 to C$9.05 in a research note on Thursday, December 13th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of C$8.11.
Shares of MEG stock opened at C$5.08 on Tuesday. The firm has a market cap of $1.51 billion and a PE ratio of 27.17. MEG Energy has a one year low of C$4.28 and a one year high of C$11.70. The company has a debt-to-equity ratio of 87.50, a quick ratio of 1.35 and a current ratio of 1.56.
MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta, as well as primarily engages in a steam-assisted gravity drainage oil sands development at its Christina Lake project.
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