MEG Energy (MEG) has received a rating update from a Wall Street analyst today. Analyst Benny Wong from Morgan Stanley rated MEG Energy (MEG) a Hold.
According to TipRanks.com, Wong has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.1% and a 27.6% success rate. Wong covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Valero Energy Corp, and Encana Corp.
MEG Energy has an analyst consensus of Hold, with a price target consensus of C$12.13, a 51.6% upside from current levels. In a report issued on November 5, Raymond James also maintained a Hold rating on the stock with a C$12 price target.
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The company has a one-year high of C$11.70 and a one-year low of C$4.28. Currently, MEG Energy has an average volume of 2.41M.
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 Tuesday at C$8.
