Raising MEG Energy's Fair Value Estimate, but Stock Still in 3-Star Territory
We are raising our fair value estimate for MEG Energy to CAD 7.50 from CAD 7 on our improved outlook for the company’s price realizations. However, the stock is currently trading 35% above our fair value estimate. At this time, we recommend that investors remain on the sidelines.As a reminder, no-moat MEG reported third-quarter production of 98.8 thousand barrels of oil per day, above our expectations. Increased production was driven by a faster-than-expected ramp up of the Phase 2B eMSAGP impl...
MEG Energy is engaged in a steam assisted gravity drainage oil sands development at its 80 section Christina Lake Regional Project. As of Dec 31 2010, Co. had total proved bitumen reserves of 605.9 gross thousand barrels (470.5 net thousand barrels).
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.