MEG Energy (TSE:MEG) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?
by Doug Wharley · The Cerbat GemShares of MEG Energy Corp. (TSE:MEG – Get Free Report) crossed below its 50-day moving average during trading on Monday . The stock has a 50-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.
MEG Energy Stock Performance
The firm has a fifty day moving average of C$30.89 and a 200-day moving average of C$30.53. The stock has a market capitalization of C$7.86 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.17 and a beta of 0.45. The company has a quick ratio of 1.17, a current ratio of 1.73 and a debt-to-equity ratio of 22.34.
About MEG Energy
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.