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

Tudor Pickering analyst Tudor Pickering reiterated a Hold rating on MEG Energy (MEGEFResearch Report) yesterday and set a price target of C$7.00. The company’s shares closed last Tuesday at $5.79, close to its 52-week high of $6.44.

MEG Energy has an analyst consensus of Moderate Buy, with a price target consensus of $7.36, a 24.0% upside from current levels. In a report released yesterday, National Bank also maintained a Hold rating on the stock with a C$11.00 price target.

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MEG Energy’s market cap is currently $1.75B and has a P/E ratio of -6.20. The company has a Price to Book ratio of 0.59.

Based on the recent corporate insider activity of 34 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.