Professional
Added to YB: 2024-09-06
Pitch date: 2024-09-05
MEG.TO [bullish]
MEG Energy Corp.
+26.76%
current return
Author Info
No bio for this author
Company Info
MEG Energy Corp., an energy company, focuses on in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada.
Market Cap
CAD 5.1B
Pitch Price
CAD 24.37
Price Target
N/A
Dividend
2.00%
EV/EBITDA
4.07
P/E
10.67
EV/Sales
1.17
Sector
Oil, Gas and Consumable Fuels
Category
value
Rocklinc Fund Portfolio Holding: MEG Energy Corp.
MEG.TO: Pure-play oil sands producer w/ 2B barrels reserves, 50+ yr life. Low-cost (US$46 breakeven), efficient (2.2 SOR), 10-15% decline rate. Debt cut from $3B to $730M. 100% FCF to buybacks at $600M debt. 10% production/share growth in 2024. Benefits from Trans Mountain pipeline expansion. Trading at low valuation despite $80+ WTI.
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