Energen Corp. (EGN) Trading Down 3%
Shares of Energen Corp. (NYSE:EGN) dropped 3% during mid-day trading on Monday . The company traded as low as $54.07 and last traded at $54.20, with a volume of 674,874 shares changing hands. The stock had previously closed at $55.85.
EGN has been the subject of a number of research analyst reports. Seaport Global Securities upgraded Energen Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $50.00 in a research report on Tuesday, May 10th. Stifel Nicolaus initiated coverage on Energen Corp. in a research report on Thursday, June 16th. They set a “buy” rating and a $55.00 price target for the company. Wunderlich lifted their price target on Energen Corp. from $43.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, May 9th. Deutsche Bank AG raised their price objective on Energen Corp. from $43.00 to $48.00 and gave the company a “hold” rating in a report on Tuesday, June 14th. Finally, Credit Suisse Group AG raised their price objective on Energen Corp. from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, June 21st. Twelve research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.72.
The company’s market cap is $5.32 billion. The company has a 50 day moving average of $49.39 and a 200-day moving average of $41.02.
Energen Corp. (NYSE:EGN) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.09. The company earned $105.80 million during the quarter, compared to the consensus estimate of $144.31 million. Energen Corp.’s revenue for the quarter was down 37.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. On average, analysts anticipate that Energen Corp. will post ($1.39) EPS for the current fiscal year.
In other news, CEO J T. Mcmanus sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $48.05, for a total value of $720,750.00. Following the sale, the chief executive officer now directly owns 103,789 shares in the company, valued at $4,987,061.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the completion of the sale, the chairman now owns 103,789 shares in the company, valued at $5,457,225.62. The disclosure for this sale can be found here.
Several large investors have modified their holdings of EGN. Wells Fargo & Company MN increased its stake in shares of Energen Corp. by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 311,066 shares of the company’s stock valued at $12,750,000 after buying an additional 7,222 shares during the last quarter. RS Investment Management Co. LLC acquired a new stake in shares of Energen Corp. during the fourth quarter valued at $4,890,000. Finally, BlackRock Advisors LLC increased its stake in shares of Energen Corp. by 47.2% in the fourth quarter. BlackRock Advisors LLC now owns 578,373 shares of the company’s stock valued at $23,708,000 after buying an additional 185,471 shares during 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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