The Chief Financial Officer of MEG Energy is Exercising Options

By Carrie Williams

Today it was reported that the Chief Financial Officer of MEG Energy (MEGEFResearch Report), Eric Lloyd Toews, exercised options to sell 151,331 MEGEF shares for a total transaction value of $1M.

Following this transaction Eric Lloyd Toews’ holding in the company was decreased by 75% to a total of $1.42 million. In addition to Eric Lloyd Toews, 10 other MEGEF executives reported Sell trades in the last month.

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The company has a one-year high of $6.44 and a one-year low of $1.45. Currently, MEG Energy has an average volume of 14.02K.

Based on 13 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $6.51, reflecting a -17.5% downside.

In the last 30 days, insiders have sold $5.72M worth of MEGEF shares and purchased $130.5K worth of MEGEF shares. The insider sentiment on MEG Energy has been negative according to 32 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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MEG Energy Corp. is oil sands company, which engages in the development and production of in situ. It also operates oil recovery projects which utilize steam-assisted gravity drainage including Christina Lake, Summont, and May River Regional Project. It offers Steam-Assisted Gravity Drainage, eMSAGP, Cogeneration, and HI-Q Field Pilot technology. The company was founded by William J. McCaffrey, Steve Turner, and David J. Wizinsky on March 9, 1999 and is headquartered in Calgary, Canada.