Great Lakes Advisors LLC purchased a new stake in shares of MEG Energy Corp. (OTCMKTS:MEGEF – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 46,874 shares of the company’s stock, valued at approximately $5,933,000.
Several other large investors have also recently bought and sold shares of MEGEF. Comprehensive Financial Planning Inc. PA purchased a new stake in MEG Energy in the 2nd quarter worth about $457,000. J.Safra Asset Management Corp purchased a new position in MEG Energy during the 2nd quarter valued at about $592,000. Finally, Trust Co. of Vermont purchased a new position in MEG Energy during the 2nd quarter valued at about $137,000. 50.51% of the stock is owned by institutional investors and hedge funds.
MEG Energy Stock Performance
Shares of MEGEF opened at $21.96 on Thursday. The business’s 50-day moving average is $21.96 and its 200-day moving average is $21.96. MEG Energy Corp. has a fifty-two week low of $12.00 and a fifty-two week high of $22.14.
About MEG Energy
MEG Energy is an independent Canadian oil sands company headquartered in Calgary, Alberta. The company’s principal operations center on the development and production of bitumen through steam-assisted gravity drainage (SAGD) technology. MEG Energy’s flagship asset is the Christina Lake project in northeast Alberta, where it produces and upgrades bitumen into synthetic crude oil for sale to North American refineries.
Christina Lake is developed in multiple phases, each designed to optimize thermal efficiency and maintain strong environmental controls.
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