In a latest note to investors, a research analyst has provided a rating update for the MEG Energy (MEG). On January 17, analyst Nick Lupick gave a Sell rating to MEG and set a C$8 price target.
According to TipRanks.com, Lupick ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.8% and a 41.0% success rate. Lupick covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
The word on The Street in general, suggests a Hold analyst consensus rating for MEG Energy with a C$8.75 average price target.
MEG Energy’s market cap is currently C$1.59B and has a P/E ratio of 29.7. The company has a Price to Book ratio of 0.39.
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 Friday at C$5.35, close to its 52-week low of C$4.28.
