Energen Corp. (EGN) Shares Gap Up to $58.48
Energen Corp. (NYSE:EGN) shares gapped up before the market opened on Friday . The stock had previously closed at $58.15, but opened at $58.48. Energen Corp. shares last traded at $59.33, with a volume of 326,958 shares trading hands.
Several brokerages have commented on EGN. Stifel Nicolaus restated a “buy” rating on shares of Energen Corp. in a research report on Wednesday. TheStreet upgraded shares of Energen Corp. from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. Williams Capital began coverage on shares of Energen Corp. in a research report on Monday. They set a “buy” rating and a $68.00 price objective for the company. KeyCorp boosted their price objective on shares of Energen Corp. from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, August 22nd. Finally, Barclays PLC boosted their price objective on shares of Energen Corp. from $52.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $55.23.
The firm has a 50 day moving average price of $52.00 and a 200-day moving average price of $42.96. The firm’s market cap is $5.77 billion.
Energen Corp. (NYSE:EGN) last issued its earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09. The business earned $105.80 million during the quarter, compared to analysts’ expectations of $144.31 million. During the same quarter in the previous year, the business earned $0.10 EPS. Energen Corp.’s revenue for the quarter was down 37.1% compared to the same quarter last year. Equities research analysts expect that Energen Corp. will post ($1.36) earnings per share for the current fiscal year.
In related news, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $52.58, for a total value of $537,157.28. Following the transaction, the chairman now owns 103,789 shares in the company, valued at approximately $5,457,225.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Magnus James Gorrie bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The stock was acquired at an average price of $47.26 per share, for a total transaction of $47,260.00. Following the transaction, the director now owns 7,900 shares in the company, valued at $373,354. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Energen Corp. stock. BlackRock Advisors LLC boosted its position in shares of Energen Corp. (NYSE:EGN) by 47.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 578,373 shares of the company’s stock after buying an additional 185,471 shares during the period. BlackRock Advisors LLC owned about 0.73% of Energen Corp. worth $23,708,000 as of its most recent SEC filing.
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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