MEG Energy (TSE:MEG) target price upped to $11.00, released a ratings update earlier today by RBC Capital Markets
- Updated: September 29, 2016
RBC Capital Markets raised the target price of MEG Energy (TSE:MEG) to $11.00 reporting a possible upside of 0.89%.
On Friday July 29, 2016, Scotia Capital released a statement for MEG Energy (TSE:MEG) bumped up the target price from $0.00 to $12.00 that suggested an upside of 1.17%.
Boasting a price of $5.82, MEG Energy (TSE:MEG) traded 7.03% higher on the day. With the last stock price close down -4.11% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. MEG Energy has recorded a 50-day average of $5.63 and a two hundred day average of $6.19. Volume of trade was up over the average, with 2,878,084 shares of MEG changing hands over the typical 1,761,400
With a total market value of $0, MEG Energy has with a one year low of $3.46 and a one year high of $13.15 .
A total of 13 equity analysts have released a ratings update on MEG. zero equity analysts rating the company a strong buy, four equity analysts rating the company a buy, eight equity analysts rating the company a hold, one equity analyst rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $6.48.
Brief Synopsis About MEG Energy (TSE:MEG)
MEG Energy Corp. (MEG) is an oil sands company. The Company is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods. The Company has two commercial SAGD projects: the Christina Lake Project and the Surmont Project. The Christina Lake Project is situated on over 80 square miles of oil sands leases in the southern Athabasca oil sands region of Alberta. MEG owns working interest in the oil sands leases associated with the Christina Lake Project. The Surmont Project comprises over 30 square miles of lands in the southern Athabasca oil sands region of Alberta. The Surmont Project is located approximately 50 miles south of Fort McMurray. MEG owns working interest in the oil sands leases associated with the Surmont Project. MEG also holds interest in the Access Pipeline.
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