Energen Corp. (EGN) Shares Gap Up to $58.48
Energen Corp. (NYSE:EGN) gapped up prior to trading 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 traded.
A number of equities research analysts recently weighed in on EGN shares. Seaport Global Securities upgraded Energen Corp. from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $50.00 in a report on Tuesday, May 10th. Stifel Nicolaus started coverage on Energen Corp. in a report on Thursday, June 16th. They set a “buy” rating and a $55.00 target price on the stock. Wunderlich increased their target price on Energen Corp. from $43.00 to $53.00 and gave the company a “buy” rating in a report on Monday, May 9th. TheStreet upgraded Energen Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 26th. Finally, Credit Suisse Group AG increased their target price on Energen Corp. from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, June 21st. Thirteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $55.23.
The company has a 50-day moving average price of $52.00 and a 200-day moving average price of $42.96. The stock’s market capitalization is $5.77 billion.
Energen Corp. (NYSE:EGN) last announced its earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.09. The company had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. Energen Corp.’s revenue for the quarter was down 37.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. Analysts anticipate that Energen Corp. will post ($1.36) EPS for the current fiscal year.
In related news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction that occurred 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 directly owns 103,789 shares in the company, valued at $5,457,225.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO J T. Mcmanus sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $48.05, for a total transaction of $720,750.00. Following the completion of the transaction, the chief executive officer now owns 103,789 shares in the company, valued at $4,987,061.45. The disclosure for this sale can be found here.
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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