Today, an analyst has provided a rating update for MEG Energy (MEG). Raymond James’ analyst Chris Cox reiterates their Hold rating on the shares, with a C$12 price target.
According to TipRanks.com, Cox is a 2-star analyst with an average return of 0.7% and a 47.4% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Baytex Energy Corp, Cenovus Energy Inc, and Canadian Natural.
The word on The Street in general, suggests a Hold analyst consensus rating for MEG Energy with a C$11.94 average price target, representing a 17.1% upside. In a report issued on October 25, Desjardins also reiterated a Hold rating on the stock with a C$12 price target.
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MEG Energy’s market cap is currently C$2.97B and has a P/E ratio of 143.1. The company has a Price to Book ratio of 0.75.
MEG Energy Corp. engages in the development and production of situ oil sands. It focuses in southern Athabasca oil sands region of Alberta. It also develops enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods, which consists of Christina Lake Project and the Surmont Project.
The company’s shares closed on Monday at C$10.20.
