MEG Energy: Hold Rating Amid Steady Performance and Strategic Capital Returns

Analyst Anthony Linton of Jefferies maintained a Hold rating on MEG Energy (MEGEF – Research Report), retaining the price target of C$25.00.

Anthony Linton’s rating is based on several factors, including MEG Energy’s financial and operational performance aligning with expectations from Jefferies and consensus estimates. The company’s guidance for 2025 remains steady, with a significant emphasis on the successful execution of a multi-year facility expansion project, which is a key focus for investors.
Additionally, MEG Energy has been actively executing its capital return strategy, having repurchased approximately 3% of its float in the first quarter of 2025. These factors contribute to a Hold rating, as the company is performing in line with expectations, but there are no immediate catalysts for a more bullish or bearish outlook.

In another report released on April 25, National Bank also maintained a Hold rating on the stock with a C$24.00 price target.

Based on the recent corporate insider activity of 49 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.