Tudor Pickering Maintains Their Hold Rating on MEG Energy (MEGEF)

In a report released yesterday, Tudor Pickering from Tudor Pickering maintained a Hold rating on MEG Energy (MEGEFResearch Report), with a price target of C$10.00. The company’s shares closed last Thursday at $6.83.

MEG Energy has an analyst consensus of Moderate Buy, with a price target consensus of $9.20.

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The company has a one-year high of $7.91 and a one-year low of $1.61. Currently, MEG Energy has an average volume of 86.77K.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MEGEF in relation to earlier this year.

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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 was founded by William J. McCaffrey, Steve Turner, and David J. Wizinsky on March 9, 1999 and is headquartered in Calgary, Canada.