Energen Corporation (EGN) Rating Reiterated by BMO Capital Markets
Energen Corporation (NYSE:EGN)‘s stock had its “hold” rating reaffirmed by BMO Capital Markets in a research report issued to clients and investors on Wednesday. They currently have a $70.00 target price on the stock. BMO Capital Markets’ price target indicates a potential upside of 26.08% from the stock’s current price.
Several other analysts also recently issued reports on EGN. Seaport Global Securities downgraded shares of Energen Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, December 9th. Nomura reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Energen Corporation in a research report on Monday, November 7th. Drexel Hamilton assumed coverage on shares of Energen Corporation in a research report on Thursday, December 15th. They issued a “buy” rating and a $71.00 price objective for the company. Canaccord Genuity assumed coverage on shares of Energen Corporation in a research report on Monday, September 19th. They issued a “buy” rating and a $66.00 price objective for the company. Finally, KLR Group raised shares of Energen Corporation from an “accumulate” rating to a “buy” rating and increased their price objective for the company from $69.00 to $73.00 in a research report on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $61.79.
Energen Corporation (NYSE:EGN) traded down 1.75% during mid-day trading on Wednesday, reaching $54.55. 475,993 shares of the company traded hands. Energen Corporation has a 52-week low of $20.76 and a 52-week high of $64.44. The stock’s market capitalization is $5.30 billion. The firm’s 50-day moving average is $58.80 and its 200 day moving average is $54.52.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.04. Energen Corporation had a negative net margin of 115.17% and a negative return on equity of 2.70%. The company earned $184.39 million during the quarter, compared to the consensus estimate of $159.82 million. During the same quarter last year, the company earned $0.41 earnings per share. Energen Corporation’s revenue for the quarter was down 37.6% on a year-over-year basis. On average, equities research analysts expect that Energen Corporation will post ($1.33) earnings per share for the current year.
In other news, Chairman J T. Mcmanus sold 11,781 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $56.34, for a total transaction of $663,741.54. Following the transaction, the chairman now directly owns 103,789 shares of the company’s stock, valued at $5,847,472.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.02% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of EGN. Boston Partners raised its position in shares of Energen Corporation by 63.7% in the third quarter. Boston Partners now owns 8,491,220 shares of the company’s stock worth $490,114,000 after buying an additional 3,303,337 shares during the period. Prudential Financial Inc. raised its position in shares of Energen Corporation by 581.9% in the third quarter. Prudential Financial Inc. now owns 896,856 shares of the company’s stock worth $51,767,000 after buying an additional 765,330 shares during the period. Victory Capital Management Inc. raised its position in shares of Energen Corporation by 33.3% in the third quarter. Victory Capital Management Inc. now owns 2,308,249 shares of the company’s stock worth $133,233,000 after buying an additional 576,299 shares during the period. Advisory Research Inc. acquired a new position in shares of Energen Corporation during the second quarter worth approximately $20,125,000. Finally, Vanguard Group Inc. raised its position in shares of Energen Corporation by 4.3% in the second quarter. Vanguard Group Inc. now owns 7,517,189 shares of the company’s stock worth $362,405,000 after buying an additional 310,178 shares during the period. 92.05% of the stock is currently owned by institutional investors.
About Energen Corporation
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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