Energen Corp. (EGN) Lifted to Buy at Tudor Pickering
EGN has been the subject of a number of other research reports. Stifel Nicolaus increased their price objective on Energen Corp. from $55.00 to $60.00 and gave the company a buy rating in a research report on Tuesday, August 9th. RBC Capital Markets reiterated a sector perform rating and set a $54.00 price objective (up previously from $50.00) on shares of Energen Corp. in a research report on Thursday, August 11th. Deutsche Bank AG increased their price objective on Energen Corp. from $43.00 to $48.00 and gave the company a hold rating in a research report on Tuesday, June 14th. Royal Bank Of Canada increased their price objective on Energen Corp. from $50.00 to $54.00 and gave the company a sector perform rating in a research report on Wednesday, August 10th. Finally, Barclays PLC began coverage on Energen Corp. in a report on Tuesday, June 21st. They issued an equal weight rating and a $50.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $55.63.
Shares of Energen Corp. (NYSE:EGN) opened at 52.27 on Friday. The stock’s market cap is $5.07 billion. The stock has a 50 day moving average price of $54.59 and a 200 day moving average price of $45.59. Energen Corp. has a 12 month low of $20.76 and a 12 month high of $61.98.
Energen Corp. (NYSE:EGN) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The company earned $105.80 million during the quarter, compared to the consensus estimate of $144.31 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s quarterly revenue was down 37.1% compared to the same quarter last year. Equities analysts anticipate that Energen Corp. will post ($1.37) EPS for the current fiscal year.
In related news, Director Magnus James Gorrie acquired 1,000 shares of the firm’s stock in a transaction on Friday, June 24th. The shares were bought 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. 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 sale, 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. Corporate insiders own 1.02% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in EGN. ClariVest Asset Management LLC bought a new stake in Energen Corp. during the second quarter worth $103,000. Creative Planning increased its stake in Energen Corp. by 875.0% in the second quarter. Creative Planning now owns 3,315 shares of the company’s stock worth $160,000 after buying an additional 2,975 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV bought a new stake in Energen Corp. during the second quarter worth $202,000. Fruth Investment Management bought a new stake in Energen Corp. during the second quarter worth $212,000. Finally, Hsbc Holdings PLC bought a new stake in Energen Corp. during the second quarter worth $217,000. 93.37% of the stock is currently owned by institutional investors.
Energen Corp. Company Profile
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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