Energen Corp. (EGN) Earns Buy Rating from Analysts at Mizuho
A number of other equities analysts have also recently commented on the company. Canaccord Genuity assumed coverage on Energen Corp. in a report on Monday, September 19th. They set a buy rating and a $66.00 price target for the company. Tudor Pickering upgraded Energen Corp. from a hold rating to a buy rating in a report on Friday, September 16th. Stifel Nicolaus reiterated a buy rating on shares of Energen Corp. in a report on Wednesday, August 31st. TheStreet upgraded Energen Corp. from a sell rating to a hold rating in a report on Friday, August 26th. Finally, Williams Capital assumed coverage on Energen Corp. in a report on Monday, August 29th. They set a buy rating and a $68.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Energen Corp. has a consensus rating of Buy and an average price target of $56.39.
Shares of Energen Corp. (NYSE:EGN) opened at 59.26 on Wednesday. The company’s 50-day moving average price is $56.05 and its 200-day moving average price is $47.94. The firm’s market capitalization is $5.75 billion. Energen Corp. has a 12-month low of $20.76 and a 12-month high of $61.98.
Energen Corp. (NYSE:EGN) last posted its quarterly 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. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The business earned $105.80 million during the quarter, compared to analysts’ expectations of $144.31 million. During the same quarter last year, the company posted $0.10 earnings per share. Energen Corp.’s quarterly revenue was down 37.1% on a year-over-year basis. Analysts anticipate that Energen Corp. will post ($1.37) EPS for the current year.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $52.58, for a total transaction of $537,157.28. Following the sale, the chairman now owns 103,789 shares of the company’s stock, valued at $5,457,225.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. ClariVest Asset Management LLC purchased a new stake in shares of Energen Corp. during the second quarter worth approximately $103,000. Creative Planning boosted its stake in shares of 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 period. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of Energen Corp. during the second quarter worth approximately $202,000. Fruth Investment Management purchased a new stake in shares of Energen Corp. during the second quarter worth approximately $212,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Energen Corp. during the second quarter worth approximately $217,000. 93.37% of the stock is currently owned by institutional investors and hedge funds.
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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