MEG Energy Corp T.MEG

Me three

[aaaaaargh]

Yup, just sold.  It's a problem for now if it keeps going down when oil is going up.....

[CJInvestor]

Very odd how shorts take over a stock just like that. It was doing so well. I am shocked it turned so negative over not much really. My sell point is 29 even. Below 29 we are going to 25. 

[Offgridtrader]

With MEG buying back stock and chewing through their NCIB like a f@t kid eats cake I'm sure they'd be happy to buy them off you...  With 100% FCF about to come our way and speculation about a base dividend I'd hate to miss the train when it leaves the station in the next quarter or two... I'm still well over 100% since my 2020 purchase and can patiently wait a few more months

[aaaaaargh]

Still really like the company.   Just hoping to get back in at a lower price......   we'll see if it pays off or not in the end...   Happy trading!!!!

[CJInvestor]

Agree. I have to stop losses at 29 since I am definitely not dealing here with a  multi bagger. But for now I wait for the next wave up. I agree there is a lot of potential with Meg. 

[vwbusman]

Sounds good - looking forward to MEG announcing they have hit that 100% FCF shareholder cash flow / debt target.   They should have the opportunity to do this fairly soon as things are much better for FCF now than Q1: WTI of US$79.95/bbl, an improvement of approximately US$3/bbl from US$76.97/bbl experienced in Q1/24. WCS differential strengthening to a discount to WTI of

[Offgridtrader]

I completely agree! The setup for MEG is excellent and I too hope they continue to buy back stock at an accelerated rate before introducing any dividend. It's the wiser longer-term play as any new divi announcement will pop the SP and make buybacks more expensive with less cash available to buy them.  Who knows what they're going to do but the board sounded hesitant when discussing

[jleer42]

I expect there will be a dividend when they meet target. If nothing else, a minimal one so funds which require a dividend can invest in MEG.

[CJInvestor]

Hope there is SIB before dividend. BTE shows the risk of a small dividend not doing a darn thing  when too many shares outstanding. 

[robert41]

270 million shares out is not out of line for a company producing 100k boe a day and low debt. Bte and Meg share structures and debt are not worth comparing. Meg is in a different league.