Energen Corp. (EGN) PT Raised to $70.00 at Wunderlich
A number of other brokerages have also weighed in on EGN. Mizuho began coverage on Energen Corp. in a research report on Wednesday, October 5th. They set a buy rating and a $70.00 target price for the company. TheStreet raised Energen Corp. from a sell rating to a hold rating in a research report on Friday, August 26th. Stifel Nicolaus reaffirmed a buy rating on shares of Energen Corp. in a research report on Wednesday, August 31st. Williams Capital began coverage on Energen Corp. in a research report on Monday, August 29th. They set a buy rating and a $68.00 target price for the company. Finally, KeyCorp lifted their target price on Energen Corp. from $63.00 to $66.00 and gave the company an overweight rating in a research report on Monday, August 22nd. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $56.39.
Energen Corp. (NYSE:EGN) opened at 58.16 on Thursday. Energen Corp. has a one year low of $20.76 and a one year high of $61.98. The company’s 50 day moving average price is $56.14 and its 200-day moving average price is $48.01. The company’s market cap is $5.65 billion.
Energen Corp. (NYSE:EGN) last issued its quarterly 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. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The firm earned $105.80 million during the quarter, compared to analyst estimates of $144.31 million. During the same period last year, the company earned $0.10 EPS. Energen Corp.’s quarterly revenue was down 37.1% compared to the same quarter last year. On average, analysts forecast that Energen Corp. will post ($1.37) EPS for the current fiscal year.
In related news, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the completion of the transaction, the chairman now owns 103,789 shares of the company’s stock, valued at approximately $5,457,225.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in EGN. ClariVest Asset Management LLC purchased a new position in shares of Energen Corp. during the second quarter worth approximately $103,000. Creative Planning boosted its position 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 last quarter. Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Energen Corp. during the second quarter worth approximately $202,000. Fruth Investment Management purchased a new position in shares of Energen Corp. during the second quarter worth approximately $212,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Energen Corp. during the second quarter worth approximately $217,000. 93.37% of the stock is 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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