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MEG Energy Corp

MEG-T

TSE:MEG

7.56
0.44 (5.50%)
MEG Energy is a pure play Canadian oil sands producer engaged in exploration in Northern Alberta. All of its oil reserves are more than 1,000 feet below the surface and so they depend on steam-assisted ...
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Analysis and Opinions about MEG-T

Signal
Opinion
Expert
Chart
BUY
BUY
July 30, 2021
How could you not like MEG? Massively de-leveraging. Will be going to the balance sheet. Next year, should return a lot of capital. 24% free cashflow at $70 oil. Could buy back all stock in a year. Inevitably will get scooped up. Expects for this to do very well. A 6x multiple would be realistic with free cashflow and asset quality. Quite bullish on the name. 8% weighting in his fund right now.
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How could you not like MEG? Massively de-leveraging. Will be going to the balance sheet. Next year, should return a lot of capital. 24% free cashflow at $70 oil. Could buy back all stock in a year. Inevitably will get scooped up. Expects for this to do very well. A 6x multiple would be realistic with free cashflow and asset quality. Quite bullish on the name. 8% weighting in his fund right now.
Eric Nuttall
Price
$7.955
Owned
Yes
BUY
BUY
June 18, 2021
$70 oil prices seemed not possible last year. MEG was one of the names most leveraged to rising oil prices. The longer you hold at these levels, you will gain because the stock is catching up to the commodity price. Could continue to move higher even after this large move.
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$70 oil prices seemed not possible last year. MEG was one of the names most leveraged to rising oil prices. The longer you hold at these levels, you will gain because the stock is catching up to the commodity price. Could continue to move higher even after this large move.
John Zechner
Price
$8.650
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
April 30, 2021
(A Top Pick May 15/20, Up 137%) A core holding for him. Must own if you are bullish on oil. Using all free cashflow to de-lever. 2.6x debt to cashflow next year at $60 oil. Spending some money to scale production to reach critical mass. Trading at under 5x cashflow with 33% free cashflow yield. Once debt is paid down, they can start increasing dividend and buybacks. At $60 oil, target is $10.80, $70 oil would be $18.64.
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MEG Energy Corp (MEG-T)
April 30, 2021
(A Top Pick May 15/20, Up 137%) A core holding for him. Must own if you are bullish on oil. Using all free cashflow to de-lever. 2.6x debt to cashflow next year at $60 oil. Spending some money to scale production to reach critical mass. Trading at under 5x cashflow with 33% free cashflow yield. Once debt is paid down, they can start increasing dividend and buybacks. At $60 oil, target is $10.80, $70 oil would be $18.64.
Eric Nuttall
Price
$6.870
Owned
Yes
PAST TOP PICK
PAST TOP PICK
March 26, 2021
(A Top Pick Apr 03/20, Up 197%) Remains a top holding. A pure play on heavy oil producer. Incredibly mispriced. It would be trading at 4.2x cashflow at $60 oil. High quality name. By next year, expects them to buy back their stock in a meaningful way. Expects to trade at $13.50 per share. Has been paying down debt aggressively. A 9% weighting for him.
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MEG Energy Corp (MEG-T)
March 26, 2021
(A Top Pick Apr 03/20, Up 197%) Remains a top holding. A pure play on heavy oil producer. Incredibly mispriced. It would be trading at 4.2x cashflow at $60 oil. High quality name. By next year, expects them to buy back their stock in a meaningful way. Expects to trade at $13.50 per share. Has been paying down debt aggressively. A 9% weighting for him.
Eric Nuttall
Price
$6.620
Owned
Yes
BUY
BUY
February 9, 2021
A heavy oil pick pipelines down the coast with 66% of volumes. At $60 oil. Generates $900 million in fresh cash flow before hedges. They can delever quickly--and heavy debt has long been a knock against MEG. It trades at 4x 135% upside. He wants only oil stocks offering at least 100% upside. It's a free cash flow machine.
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MEG Energy Corp (MEG-T)
February 9, 2021
A heavy oil pick pipelines down the coast with 66% of volumes. At $60 oil. Generates $900 million in fresh cash flow before hedges. They can delever quickly--and heavy debt has long been a knock against MEG. It trades at 4x 135% upside. He wants only oil stocks offering at least 100% upside. It's a free cash flow machine.
Eric Nuttall
Price
$5.825
Owned
Unknown
DON'T BUY
DON'T BUY
February 8, 2021

WCP-T vs. MEG-T. WCP-T is more towards the high quality side. It has performed excellently and rolled up some smaller companies. They will continue to consolidate the space and the dividend is safe. MEG-T is more leveraged to the upside. WCP-T is more of a safe haven. He prefers WCP-T.

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MEG Energy Corp (MEG-T)
February 8, 2021

WCP-T vs. MEG-T. WCP-T is more towards the high quality side. It has performed excellently and rolled up some smaller companies. They will continue to consolidate the space and the dividend is safe. MEG-T is more leveraged to the upside. WCP-T is more of a safe haven. He prefers WCP-T.

Jamie Murray
Price
$5.840
Owned
Unknown
BUY
BUY
December 11, 2020
A core holding if you are bullish on oil. They have been increasing takeaway capacity and global demand remains strong. They are a cashflow machine and they are able to de-lever quickly.
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MEG Energy Corp (MEG-T)
December 11, 2020
A core holding if you are bullish on oil. They have been increasing takeaway capacity and global demand remains strong. They are a cashflow machine and they are able to de-lever quickly.
Eric Nuttall
Price
$4.570
Owned
Yes
TOP PICK
TOP PICK
November 20, 2020

They have paid down debt, but their balance sheet is not yet where investors want. Their assets were in demand from Husky. If oil prices strengthen, he does not expect this to exist for long since it is a big cashflow machine. It is hedge-fund heavy but he would buy a little if you are bullish on oil. (Analysts’ price target is $3.99)

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MEG Energy Corp (MEG-T)
November 20, 2020

They have paid down debt, but their balance sheet is not yet where investors want. Their assets were in demand from Husky. If oil prices strengthen, he does not expect this to exist for long since it is a big cashflow machine. It is hedge-fund heavy but he would buy a little if you are bullish on oil. (Analysts’ price target is $3.99)

Eric Nuttall
Price
$3.300
Owned
Yes
BUY
BUY
September 18, 2020
A leverage play on heavy oil. It remains a core holding and he just bought another tranche yesterday. Demand for Canadian heavy oil is set to rise. The company has good capacity to bring it to the Gulf coast. The valuation is compelling with good cash flow. Oil at $50-$60 would mean this stock could double.
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MEG Energy Corp (MEG-T)
September 18, 2020
A leverage play on heavy oil. It remains a core holding and he just bought another tranche yesterday. Demand for Canadian heavy oil is set to rise. The company has good capacity to bring it to the Gulf coast. The valuation is compelling with good cash flow. Oil at $50-$60 would mean this stock could double.
Eric Nuttall
Price
$3.020
Owned
Yes
PAST TOP PICK
PAST TOP PICK
August 6, 2020
(A Top Pick Aug 30/19, Down 21%) He sees a supply shortage in global oil. The call on oil is only going to grow. They have 60+ years of reserves, and they are ready to go down in the Gulf Coast. Free cash generation is positive.
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MEG Energy Corp (MEG-T)
August 6, 2020
(A Top Pick Aug 30/19, Down 21%) He sees a supply shortage in global oil. The call on oil is only going to grow. They have 60+ years of reserves, and they are ready to go down in the Gulf Coast. Free cash generation is positive.
Eric Nuttall
Price
$3.920
Owned
Yes
WATCH
WATCH
July 2, 2020
The biggest impact is the price of crude. If we continually see it improve, then this one has significant leverage to the price of oil. If it does not, then others will outperform this one.
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The biggest impact is the price of crude. If we continually see it improve, then this one has significant leverage to the price of oil. If it does not, then others will outperform this one.
PAST TOP PICK
PAST TOP PICK
June 19, 2020
(A Top Pick Aug 30/19, Down 24%) Still one of only a dozen core holdings he has. They are sitting on a world-class asset. They are roughly 55% hedged on production this year at $59 oil. They really need about $44 oil to be successful. They are levered, but have refinanced and it is not due until 2024. He is a bull on oil, thinking we will get back to $50 by year end.
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(A Top Pick Aug 30/19, Down 24%) Still one of only a dozen core holdings he has. They are sitting on a world-class asset. They are roughly 55% hedged on production this year at $59 oil. They really need about $44 oil to be successful. They are levered, but have refinanced and it is not due until 2024. He is a bull on oil, thinking we will get back to $50 by year end.
Eric Nuttall
Price
$3.680
Owned
Yes
TOP PICK
TOP PICK
May 15, 2020
3.86 They have a lot of financial leverage, but one of the best hedge books. They have 2/3 of their production going to the US Gulf Coast. This is the single best candidate for a large cap company to acquire a smaller cap like MEG. Once you get more bullish on oil prices, others will see good value. Meanwhile it is a good beta way for trading institutions to play oil. Yield 0% (Analysts’ price target is $3.86)
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3.86 They have a lot of financial leverage, but one of the best hedge books. They have 2/3 of their production going to the US Gulf Coast. This is the single best candidate for a large cap company to acquire a smaller cap like MEG. Once you get more bullish on oil prices, others will see good value. Meanwhile it is a good beta way for trading institutions to play oil. Yield 0% (Analysts’ price target is $3.86)
Eric Nuttall
Price
$2.830
Owned
Yes
DON'T BUY
DON'T BUY
April 9, 2020
CPG-T vs. MEG-T. Oil is the most important part of the Canadian economy. He would not touch either of these stocks. Both have leverage and are in financial distress. Oil is almost trading for free. Storage is getting full. It is very costly to shut down an oil sands well, and to almost the same extent to shut down a conventional well. Companies pump the crude even if they almost give it away. Neither of these companies have downstream refineries.
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CPG-T vs. MEG-T. Oil is the most important part of the Canadian economy. He would not touch either of these stocks. Both have leverage and are in financial distress. Oil is almost trading for free. Storage is getting full. It is very costly to shut down an oil sands well, and to almost the same extent to shut down a conventional well. Companies pump the crude even if they almost give it away. Neither of these companies have downstream refineries.
Brian Madden
Price
$3.030
Owned
Unknown
COMMENT
COMMENT
April 3, 2020

ATH vs HSE vs MEG? The clear stand out is MEG, who is 55% hedged at $59 oil prices. ATH has a high cost project with Hangingstone and is burning cash, although they have enough liquidity for the next 9 months. He would never own HSE, because of their ESG issues. All bets are off for all of them if $25 oil prices remain in 2021.

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ATH vs HSE vs MEG? The clear stand out is MEG, who is 55% hedged at $59 oil prices. ATH has a high cost project with Hangingstone and is burning cash, although they have enough liquidity for the next 9 months. He would never own HSE, because of their ESG issues. All bets are off for all of them if $25 oil prices remain in 2021.

Eric Nuttall
Price
$2.100
Owned
_N/A
Showing 1 to 15 of 85 entries

MEG Energy Corp(MEG-T) Rating

Ranking : 4 out of 5

Bullish - Buy Signals / Votes : 8

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 1

Total Signals / Votes : 9

Stockchase rating for MEG Energy Corp is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

MEG Energy Corp(MEG-T) Frequently Asked Questions

What is MEG Energy Corp stock symbol?

MEG Energy Corp is a Canadian stock, trading under the symbol MEG-T on the Toronto Stock Exchange (MEG-CT). It is usually referred to as TSX:MEG or MEG-T

Is MEG Energy Corp a buy or a sell?

In the last year, 9 stock analysts published opinions about MEG-T. 8 analysts recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is BUY. Read the latest stock experts' ratings for MEG Energy Corp.

Is MEG Energy Corp a good investment or a top pick?

MEG Energy Corp was recommended as a Top Pick by Eric Nuttall on 2021-07-30. Read the latest stock experts ratings for MEG Energy Corp.

Why is MEG Energy Corp stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is MEG Energy Corp worth watching?

9 stock analysts on Stockchase covered MEG Energy Corp In the last year. It is a trending stock that is worth watching.

What is MEG Energy Corp stock price?

On 2021-08-04, MEG Energy Corp (MEG-T) stock closed at a price of $7.56.