Energen Corp. (EGN) Shares Gap Down to $58.48
Energen Corp. (NYSE:EGN) shares gapped down before the market opened on Monday . The stock had previously closed at $58.15, but opened at $58.48. Energen Corp. shares last traded at $59.46, with a volume of 701,900 shares traded.
EGN has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Energen Corp. from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Friday, August 5th. KeyCorp upped their target price on Energen Corp. from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, August 22nd. Credit Suisse Group AG upped their target price on Energen Corp. from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, June 21st. Barclays PLC initiated coverage on Energen Corp. in a report on Tuesday, June 21st. They set an “equal weight” rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded Energen Corp. from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $43.00 to $51.00 in a report on Friday, May 13th. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.23.
The stock has a 50 day moving average price of $52.00 and a 200 day moving average price of $42.96. The firm’s market capitalization is $5.77 billion.
Energen Corp. (NYSE:EGN) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.09. The firm earned $105.80 million during the quarter, compared to analysts’ expectations of $144.31 million. During the same period in the prior year, the firm posted $0.10 earnings per share. 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 other news, Director Magnus James Gorrie purchased 1,000 shares of the business’s stock in a transaction on Friday, June 24th. The shares were acquired at an average cost of $47.26 per share, with a total value of $47,260.00. Following the completion of the acquisition, the director now owns 7,900 shares of the company’s stock, valued at $373,354. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total transaction of $537,157.28. Following the completion of the transaction, the chairman now directly owns 103,789 shares in the company, valued at $5,457,225.62. 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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