Added to YB: 2024-09-13
Pitch date: 2024-09-12
MEG.TO [bullish]
MEG Energy Corp.
+30.81%
current return
Author Info
HFI Research is a contrarian investment research firm with expertise in the energy sector with a focus on oil and natural gas. Sign up for the newsletter.
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 23.61
Price Target
34.50 (+12%)
Dividend
2.00%
EV/EBITDA
4.07
P/E
10.67
EV/Sales
1.17
Sector
Oil, Gas and Consumable Fuels
Category
dividend
(Public) MEG Energy - One Of My Favorite Names
MEG.TO: Oil sands co. with 100,531 bbl/d production, 2.44 SOR. Q2 AFFO $1.30/sh, FCF $0.87/sh. New $0.10 dividend (1.5% yield). $600M net debt target in Q3, then 100% FCF to shareholders. 3-5% annual growth. 13.4% FCF yield at $26/sh. $34.50 price target (33% upside). Long-lived reserves, simple model vs peers.
Read full article (5 min)