Energen Corp. (EGN) Shares Up 2.9%
Energen Corp. (NYSE:EGN) shot 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 trading hands. The stock had previously closed at $44.24.
A number of research firms have issued reports on EGN. Royal Bank Of Canada upped their price target on shares of Energen Corp. from $43.00 to $48.00 and gave the company a “sector perform” rating in a report on Tuesday, June 21st. Susquehanna upgraded shares of Energen Corp. from a “neutral” rating to a “positive” rating and set a $50.00 price target for the company in a report on Wednesday, May 11th. Topeka Capital Markets upped their price objective on shares of Energen Corp. from $35.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 6th. Barclays PLC initiated coverage on shares of Energen Corp. in a research report on Tuesday, June 21st. They set an “equal weight” rating and a $50.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Energen Corp. from a “buy” rating to a “hold” rating in a research report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $53.36.
The firm’s market cap is $4.60 billion. The stock’s 50-day moving average price is $47.18 and its 200 day moving average price is $38.82.
Energen Corp. (NYSE:EGN) last announced its quarterly earnings results on Friday, May 6th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.05. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company had revenue of $122.76 million for the quarter, compared to analysts’ expectations of $123.80 million. The firm’s revenue was down 42.2% compared to the same quarter last year. Equities analysts predict that Energen Corp. will post ($1.50) EPS for the current year.
In related news, Director Magnus James Gorrie purchased 1,000 shares of Energen Corp. stock in a transaction that occurred on Friday, June 24th. The stock was bought at an average cost of $47.26 per share, for a total transaction of $47,260.00. Following the completion of the transaction, the director now owns 7,900 shares in the company, valued at $373,354. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J T. Mcmanus sold 15,000 shares of Energen Corp. stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $48.05, for a total value of $720,750.00. Following the transaction, the chief executive officer now owns 103,789 shares of the company’s stock, valued at $4,987,061.45. The disclosure for this sale can be found here.
Other hedge funds have bought and sold shares of the company. Systematic Financial Management LP boosted its stake in Energen Corp. by 6.1% in the fourth quarter. Systematic Financial Management LP now owns 1,833,904 shares of the company’s stock worth $75,171,000 after buying an additional 105,289 shares during the period. Victory Capital Management Inc. boosted its stake in Energen Corp. by 41.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,253,040 shares of the company’s stock worth $51,362,000 after buying an additional 365,700 shares during the period. BlackRock Advisors LLC boosted its stake in Energen Corp. by 47.2% in the fourth quarter. BlackRock Advisors LLC now owns 578,373 shares of the company’s stock worth $23,708,000 after buying an additional 185,471 shares during the period. Dimensional Fund Advisors LP boosted its stake in Energen Corp. by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 317,143 shares of the company’s stock worth $12,998,000 after buying an additional 23,644 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Energen Corp. by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 311,066 shares of the company’s stock worth $12,750,000 after buying an additional 7,222 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.