MEG.TO - MEG Energy Corp.

Toronto - Toronto Delayed Price. Currency in CAD
5.29
0.00 (0.00%)
At close: 4:00PM EDT
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Previous Close5.29
Open5.31
Bid5.31 x N/A
Ask5.32 x N/A
Day's Range5.23 - 5.44
52 Week Range4.06 - 11.70
Volume1,414,949
Avg. Volume2,175,496
Market Cap1.57B
Beta (3Y Monthly)0.04
PE Ratio (TTM)N/A
EPS (TTM)-1.04
Earnings DateJul 31, 2019 - Aug 6, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est7.75
  • Is This Company About to Revolutionize the Oil Sands?
    The Motley Fool2 days ago

    Is This Company About to Revolutionize the Oil Sands?

    MEG Energy Corp (TSX:MEG) is working on technology that could shake up the whole heavy oil industry.

  • This Dirt-Cheap Energy Stock Offers 500% Upside Potential
    The Motley Fool7 days ago

    This Dirt-Cheap Energy Stock Offers 500% Upside Potential

    The carnage in the Canadian energy sector has created some unbelievable bargains. Like MEG Energy Inc. (TSX:MEG), which could see 500% upside if crude recovers.

  • CNW Grouplast month

    MEG Energy provides Annual and Special Meeting voting results

    CALGARY , June 13, 2019 /CNW/ - MEG Energy Corp. (TSX:MEG) announces voting results from its Annual and Special Meeting of Shareholders held on June 13, 2019 . Shareholders elected all directors nominated ...

  • Earn a Profit of $3,186 With These 3 Hated Stocks (in Just an Average-Sized TFSA)
    The Motley Fool2 months ago

    Earn a Profit of $3,186 With These 3 Hated Stocks (in Just an Average-Sized TFSA)

    Hunting for a bargain? This group of beaten-down stocks, including Corus Entertainment Inc. (TSX:CJR.B), might provide the value you're looking for.

  • Thomson Reuters StreetEvents2 months ago

    Edited Transcript of MEG.TO earnings conference call or presentation 7-May-19 1:30pm GMT

    Q1 2019 MEG Energy Corp Earnings Call

  • MEG Energy reports $48 million loss despite 56% bitumen price increase
    The Canadian Press3 months ago

    MEG Energy reports $48 million loss despite 56% bitumen price increase

    CALGARY — A strong rebound in western Canadian oil markets helped deliver the highest realized bitumen prices in four years for oilsands producer MEG Energy Corp. in the first quarter, it said Tuesday.Revenue rose to $919 million, up 27 per cent from $721 million in the year-earlier quarter, beating analyst expectations of $651 million as reported by Thomson Reuters Eikon.The discount paid for Western Canadian Select bitumen blend crude compared with U.S. benchmark West Texas Intermediate fell after the Alberta government imposed production quotas in January to free up pipeline space."It goes without saying one of the most significant impacts on our strong Q1 results was the dramatic narrowing of the WCS differential from US$39 to US$12 a barrel from Q4 2018 to Q1 2019," said MEG CEO Derek Evans on a conference call.He said lower costs for the light petroleum used to dilute the bitumen for transportation also helped boost returns, as realized prices for MEG's blended bitumen rose 56 per cent versus the fourth quarter of 2018.The company set a $200-million 2019 budget in January after rival Husky Energy Inc. dropped a hostile takeover bid because it didn't win the needed two-thirds support from MEG shareholders.MEG said Tuesday it cut an unspecified number of staff in February to align with lower levels of capital spending and to optimize efficiency.In an email, vice-president Tara McCool wouldn't say how many staff were let go but said overall numbers at MEG are down 52 per cent since 2014. Corporate records show MEG had about 700 staff at the end of that year.A $75-million project to expand MEG's Christina Lake project capacity to 113,000 barrels per day from 100,000 bpd remains on hold until there is clarity on curtailments and oil export options, said Evans on the call.MEG bitumen production was 87,100 bpd in the first quarter, down from 93,200 bpd a year earlier, due to the Alberta curtailments.However, it said sales averaged 89,800 bpd as it shipped stored barrels to take advantage of higher prices, a move analysts said helped MEG beat their expectations for cash flow in the quarter.MEG intends to ramp up its crude-by-rail shipments to 30,000 bpd by the third quarter despite posting high delivery costs of US$23 per barrel for the 18,650 bpd it moved in the first quarter, Evans said.Rail costs from Edmonton to the U.S. Gulf Coast are expected to ease to between US$17 and $19 later this year, he said, adding bitumen is winning "premium" pricing there because of falling heavy oil imports from Venezuela and Mexico.MEG reported 31 per cent of its oil was sold in the Gulf Coast in the first quarter, where it realized a US$3 premium to barrels sold in the Edmonton market, net of rail and pipeline transportation costs.MEG reported a net loss of $48 million or 16 cents per share in the three months ended March 31, compared with a profit of $141 million or 47 cents in the same period a year ago.The loss included a net foreign exchange gain of $78 million and a loss on hedging contracts of $230 million.Its net earnings in the first quarter of 2018 included a $318-million gain on the sale of its half interest in the Access Pipeline in northern Alberta, a net foreign exchange loss of $108 million, and a loss on hedging of $76 million. Follow @HealingSlowly on Twitter. Companies in this article: (TSX:MEG)Dan Healing, The Canadian Press

  • CNW Group3 months ago

    MEG Energy reports strong adjusted funds flow in first quarter 2019

    All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY , May 6, 2019 /CNW/ - MEG Energy Corp. ("MEG") reported its first quarter 2019 operational and financial results. ...

  • 3 Canadian Energy Stocks That Could Fail During 2019
    The Motley Fool3 months ago

    3 Canadian Energy Stocks That Could Fail During 2019

    MEG Energy Corp. (TSX:MEG), Pengrowth Energy Corp. (TSX:PGF), and Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) are all precariously placed and vulnerable to weaker oil.

  • CNW Group3 months ago

    MEG Energy holds conference call to discuss first quarter 2019 operating and financial results

    CALGARY , April 30, 2019 /CNW/ - MEG Energy Corp. (TSX:MEG) will release its first quarter 2019 financial and operating results before market open on Tuesday, May 7, 2019 .  Management's discussion and ...

  • Warren Buffett Has Just Signaled it Is Time to Start Investing in Oil
    The Motley Fool3 months ago

    Warren Buffett Has Just Signaled it Is Time to Start Investing in Oil

    Intermediate oil producers such as MEG Energy Corp (TSX:MEG) could become targets as a wave of consolidation sweeps across North America's energy patch.

  • Bargain Buys: 3 Stocks Down Big This Year With Lots of Upside
    The Motley Fool3 months ago

    Bargain Buys: 3 Stocks Down Big This Year With Lots of Upside

    MEG Energy Corp (TSX:MEG) and these two other stocks are trading below their book values and could be great deals for investors that buy today.

  • Thomson Reuters StreetEvents3 months ago

    Edited Transcript of MEG.TO earnings conference call or presentation 8-Mar-19 1:30pm GMT

    Q4 2018 MEG Energy Corp Earnings Call

  • Attention TFSA Traders: 3 Red-Hot Stocks to Ride in the 2nd Half of April
    The Motley Fool3 months ago

    Attention TFSA Traders: 3 Red-Hot Stocks to Ride in the 2nd Half of April

    Tired of declines? This trio of stocks, including Crescent Point (TSX:CPG)(NYSE:CPG), might have the rocket fuel you need.

  • Canadian energy stocks are ‘going to look fantastic’ next quarter, say money managers
    Yahoo Finance Canada3 months ago

    Canadian energy stocks are ‘going to look fantastic’ next quarter, say money managers

    Investors are shunning Canadian energy stocks in the face of a rebound in oil prices that promises to deliver strong earnings from companies hardened by a rough 2018, according to money managers following the battered sector.

  • Should You Buy Husky Energy Inc. (TSX:HSE) or MEG Energy Corp (TSX:MEG)?
    The Motley Fool3 months ago

    Should You Buy Husky Energy Inc. (TSX:HSE) or MEG Energy Corp (TSX:MEG)?

    It's a buyer's market for Canadian energy stocks right now. Which bargain stocks should you scoop up, Husky Energy Inc. (TSX:HSE) or MEG Energy Corp (TSX:MEG)?

  • 3 Small-Cap Stocks Near 52-Week Lows
    The Motley Fool4 months ago

    3 Small-Cap Stocks Near 52-Week Lows

    Looking for small-cap bargain stocks? Check out Peyto Exploration & Development Corp (TSX:PEY), MEG Energy Corp (TSX:MEG), and Westshore Terminals Investment Corp (TSX:WTE).

  • Canadian, Brazilian oil producers lock in revenues as prices rally: sources
    Reuters4 months ago

    Canadian, Brazilian oil producers lock in revenues as prices rally: sources

    Oil producers in Canada have jumped on an opportunity to lock in revenues for 2019 and 2020 as average crude futures for those years have soared over 20 percent to their highest levels this year, sources familiar with the deals said. Brazil's state-run oil giant Petróleo Brasileiro SA was also executing a part of its annual oil hedge last week, dealers and banking sources said. Canadian oil is priced against U.S. crude futures, and producers use a combination of the benchmark futures and other financial tools to protect against fluctuations in prices.

  • Reuters4 months ago

    Canadian, Brazilian oil producers lock in revenues as prices rally -sources

    Oil producers in Canada have jumped on an opportunity to lock in revenues for 2019 and 2020 as average crude futures for those years have soared over 20 percent to their highest levels this year, sources familiar with the deals said. Brazil's state-run oil giant Petróleo Brasileiro SA was also executing a part of its annual oil hedge last week, dealers and banking sources said. Canadian oil is priced against U.S. crude futures, and producers use a combination of the benchmark futures and other financial tools to protect against fluctuations in prices.

  • Oilprice.com4 months ago

    Why Canadian Oil Giants Won’t Expand Production Capacity

    Canadian E&Ps are delaying or canceling projects, citing long-lasting pipeline woes as a major obstacle for the industry

  • Oil Prices Surge To Multi-Month Highs
    Oilprice.com4 months ago

    Oil Prices Surge To Multi-Month Highs

    Oil prices have surged to multi-month highs as a slowdown in U.S. production growth combines with outages in Venezuela and Iran