Energen Corp. (EGN) Trading 2.9% Higher
Energen Corp. (NYSE:EGN)’s share price traded up 2.9% during mid-day trading on Thursday . The company traded as high as $45.92 and last traded at $45.53, with a volume of 688,009 shares. The stock had previously closed at $44.24.
A number of equities analysts have recently issued reports on the stock. Citigroup Inc. raised their target price on shares of Energen Corp. from $38.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 17th. Deutsche Bank AG raised their target price on shares of Energen Corp. from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Tuesday, June 14th. Susquehanna upgraded shares of Energen Corp. from a “neutral” rating to a “positive” rating and set a $50.00 price objective on the stock in a research report on Wednesday, May 11th. Barclays PLC assumed coverage on shares of Energen Corp. in a research report on Tuesday, June 21st. They issued an “equal weight” rating and a $50.00 price objective on the stock. Finally, Credit Suisse Group AG lifted their price objective on shares of Energen Corp. from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $53.36.
The company’s 50 day moving average is $47.22 and its 200-day moving average is $38.73. The firm’s market capitalization is $4.43 billion.
Energen Corp. (NYSE:EGN) last posted its quarterly earnings results on Friday, May 6th. The company reported ($0.64) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.05. During the same period last year, the business earned $0.09 earnings per share. The firm had revenue of $122.76 million for the quarter, compared to analysts’ expectations of $123.80 million. The firm’s revenue for the quarter was down 42.2% on a year-over-year basis. On average, equities analysts forecast that Energen Corp. will post ($1.50) earnings per share for the current fiscal year.
In other news, CEO J T. Mcmanus sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $48.05, for a total transaction of $720,750.00. Following the completion of the sale, the chief executive officer now directly owns 103,789 shares of the company’s stock, valued at approximately $4,987,061.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Magnus James Gorrie purchased 1,000 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were purchased at an average cost of $47.26 per share, with a total value of $47,260.00. Following the completion of the purchase, the director now directly owns 7,900 shares in the company, valued at $373,354. The disclosure for this purchase can be found here.
Other large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in Energen Corp. by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 33,484 shares of the company’s stock worth $1,372,000 after buying an additional 678 shares during the period. Liberty Mutual Group Asset Management Inc. raised its position in shares of Energen Corp. by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 50,767 shares of the company’s stock worth $2,081,000 after buying an additional 17,235 shares in the last quarter. Russell Frank Co raised its position in shares of Energen Corp. by 45.4% in the fourth quarter. Russell Frank Co now owns 53,383 shares of the company’s stock worth $2,159,000 after buying an additional 16,664 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Energen Corp. by 1.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 53,264 shares of the company’s stock worth $2,183,000 after buying an additional 512 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Energen Corp. by 4.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,674 shares of the company’s stock worth $2,241,000 after buying an additional 2,369 shares in the last quarter.
Energen Corporation (Energen) is an oil and natural gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas properties and natural gas in the Permian Basin in west Texas and the San Juan Basin in New Mexico. It is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin.
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