Bullboard - Stock Discussion Forum MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

Energy Oil & Gas E&P

MEG Energy Corp. is a Canada-based energy company focused on in-situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The Company is engaged in the development of enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the economic recovery of oil. It transports and sells thermal oil (AWB) to customers throughout... see more

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MEG Energy Corp > BMO

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Post by Ztransformer on Nov 20, 2024 11:11pm

BMO

BMO analyst Jeremy McCrea detailed the energy stocks being bought by institutional investors,

“What ‘energy-weighted’ specialty funds are buying/selling. Typically, these funds are early movers and closer to company management including field[1]level operations (of the 37 high-energy focused funds we track). The top names held by these energy funds continue to be ARC, Tourmaline, and Topaz (with NuVista and Peyto new to the list vs. previous quarters) … The best-performing names in 3Q24 were CR (+67%), TPZ (+8%), PSK (+6%), PEY (+6%), and TVE (+5%) (vs. the equally weighted average of the sector at -7%). If we look at the funds that had the foresight to buy these names before their run (i.e., in the 2Q24), these funds today are now buying PrairieSky, Topaz, and MEG … Names with high buyer/seller ratios include Tamarack, Topaz, and Cardinal … We highlight the names that have seen the most ‘new buyers.’ Names to highlight include Spartan, Obsidian, and Veren”