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MEG Energy Corp. (MEG.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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15.59-0.08 (-0.51%)
As of 01:49PM EDT. Market open.

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  • B
    Not sure how I ever invested without! Their daily watchlists have helped make me a better trader!
  • S
    something wrong at MEG. by far, the worst mid size oil in the last few weeks. wonder when the news finally leaks
  • D
    MEG Energy stock will be $80 at the end of the current oil supercycle (5 years from now) - buybacks, dividends, stagflation, high oil prices for years to come
  • S
    MEG consistently is paying down debt and buying back shares. Whats not to love?
  • D
    Dr Michael Burry
    Russia threatening to stop exporting to G7 countries if price cap is imposed, oil expected to hit $125+ in 2023 if that happens.
  • A
    Eric Nuttall Top Pick on BBN Market Call.

    MEG is his highest conviction!
  • D
    Dr Michael Burry
    A storm is coming and no one seems to realize: “The United States has pushed for the price cap in response to the European Union’s risker plan to ban Russian oil imports. In June, the European Union imposed a sanctions package that will ban seaborne imports of crude oil as of December 5 and ban petroleum product imports as of February 5, 2023 (with some exceptions). Crucially, the sanctions also ban EU companies from providing shipping insurance, brokering services, or financing for oil exports from Russia to third countries. U.S. Treasury officials suggest the EU embargo could reduce Russia’s exports by three to five million barrels per day, which would trigger a massive price spike.”
  • O
  • T
    We think MEG.TO is a top short in the oil sector, see it going back to $5 at least. Incessant pumpers all over including guys on TV are either bag holders and/or silently dumping.

    Management is worse than Suncor's, awarding themselves stock like candy offsetting their miniscule buy backs while losing 1/3 production in a Q with oil prices near highs.

    Inflation trade is over and with a deeper recession soon, oil about to make bearish cross all strong, OPEC confirms demand crash... too many clear signs of a new bear market here and now.

    Oil bulls have had their cyclical run after 10 year bear market. Guarantee most will be bag holding again soon because they're almost as bad as gold bugs.
  • A
    MEG Energy (MEG TSX)

    MEG has begun to return free cash flow back to shareholders with 25 per cent of free cash flow going towards an active share buyback, reaching the next threshold to increase to 50 per cent of free cash flow in the fourth-quarter of this year. With the company trading at a 32 per cent free cash flow yield and a commitment to return all of it back to shareholders once the company reaches their final debt target in the third-quarter of 2023 we believe MEG can drive a re-rating in its trading multiple from 2.8x to 6.0x (12 per cent free cash flow yield target) = $41 target price = 137 per cent potential upside.
  • J
    Had anyone seen any good analyst research lately? I have seen nothing.
  • D
    Sold 1/2 my holdings.
  • D
    Dividends in lieu of buybacks would have stabilized this and other small and mid cap stocks.
  • D
    I sold half my position late last week . Waiting until the end of Q3 2023 to hit debt targets is not my preferred strategy. Maximizing debt reduction now with FCF, advancing Debt free deadline is the proper course of action in my opinion.
    Accelerating debt reduction followed by a juicy dividend is worth the wait. Stock buybacks don’t cut the mustard when it comes to risk /reward.
    Buybacks are too mercurial at this time given price of oil fluctuations moving forward. Reducing debt is a sure thing and should be the chief concern of management.
  • D
    Dr Michael Burry
    MEG and CVE are still the top 2 picks in this sector as they’re the only ones committed returning 100% FCF next year, others are only at max 75%, MEG has 30 years of proven reserves and never needs to spend money Exploring again making it the most attractive imo. GLTA
  • C
    why is this one so sharply up when the rest of the sector is down?
  • D
    Dr Michael Burry
    I’ll take it in cash
  • d
    Management did not execute this quarter. I understand why; stuff happens. Unfortunately, it happened with WTI at its highest level in recent history. With investors having many options in this space that pay dividends, this stock will likely stay about here until cash starts flowing to shareholders...which BTW does not mean share buybacks but cash dividends to shareholders.
  • M
    tough business holding this thing these days
  • s
    MEG is the most undervalued oil stock out there. we should be much higher then $17. but patience will be rewarded and we will push higher to over $20 soon. the fundamentals are there and they are committed to return value to shareholders up to 100% FCF.