MEG Energy (TSE:MEG) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

MEG Energy Corp. (TSE:MEG – Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$30.89 and traded as low as C$30.49. MEG Energy shares last traded at C$30.89, with a volume of 6,350,674 shares traded.

MEG Energy Stock Performance

The company has a current ratio of 1.73, a quick ratio of 1.17 and a debt-to-equity ratio of 22.34. The firm has a market cap of C$7.86 billion, a P/E ratio of 14.64, a PEG ratio of 0.17 and a beta of 0.45. The company’s 50-day moving average is C$30.89 and its two-hundred day moving average is C$30.89.

About MEG Energy

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MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.

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