MEG Energy (MEG) has received a rating update from a Wall Street analyst today. Analyst Neil Mehta from Goldman Sachs rated MEG Energy (MEG) a Hold, setting a C$7 price target.
According to TipRanks.com, Mehta is a 4-star analyst with an average return of 4.9% and a 58.8% success rate. Mehta covers the Basic Materials sector, focusing on stocks such as Par Pacific Holdings, Cenovus Energy Inc, and Hollyfrontier Corp.
Currently, the analyst consensus on MEG Energy is a Moderate Buy with an average price target of C$7.70.
The company has a one-year high of C$11.70 and a one-year low of C$4.75. Currently, MEG Energy has an average volume of 3.36M.
MEG Energy Corp. is oil sands company, which engages in the development and production of in situ. It also operates oil recovery projects which utilize steam-assisted gravity drainage including Christina Lake, Summont, and May River Regional Project. It offers Steam-Assisted Gravity Drainage, eMSAGP, Cogeneration, and HI-Q Field Pilot technology.
The company’s shares closed on Tuesday at C$6.17.
