Energen Corp. (EGN) Trading Up 3.5%
Energen Corp. (NYSE:EGN) was up 3.5% on Wednesday . The company traded as high as $47.67 and last traded at $47.39, with a volume of 1,724,245 shares. The stock had previously closed at $45.80.
A number of equities research analysts have recently weighed in on EGN shares. Deutsche Bank AG raised their price target on Energen Corp. from $34.00 to $40.00 in a research note on Wednesday, March 23rd. KLR Group downgraded Energen Corp. from a “buy” rating to an “accumulate” rating and set a $51.00 price target for the company. in a research note on Thursday, May 26th. Wunderlich cut their price target on Energen Corp. from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, March 22nd. Zacks Investment Research raised Energen Corp. from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Tuesday, April 5th. Finally, SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Energen Corp. in a research note on Friday, April 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $53.36.
The company’s market capitalization is $4.60 billion. The company has a 50-day moving average of $46.94 and a 200-day moving average of $37.92.
Energen Corp. (NYSE:EGN) last released its earnings results on Friday, May 6th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.05. During the same quarter in the previous year, the company posted $0.09 EPS. The company had revenue of $122.76 million for the quarter, compared to the consensus estimate of $123.80 million. The business’s revenue was down 42.2% on a year-over-year basis. Analysts forecast that Energen Corp. will post ($1.58) earnings per share for the current fiscal year.
In other Energen Corp. news, Director Magnus James Gorrie acquired 1,000 shares of the company’s stock in a transaction on Friday, June 24th. The shares were purchased at an average price of $47.26 per share, for a total transaction of $47,260.00. Following the completion of the purchase, the director now directly 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 available through this link. Also, CEO J T. Mcmanus sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $48.05, for a total value of $720,750.00. Following the completion of the sale, the chief executive officer now owns 103,789 shares in the company, valued at approximately $4,987,061.45. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its stake in Energen Corp. by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,197 shares of the company’s stock valued at $1,279,000 after buying an additional 100 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Energen Corp. during the fourth quarter valued at about $1,324,000. PNC Financial Services Group Inc. raised its stake in Energen Corp. by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 33,484 shares of the company’s stock valued at $1,372,000 after buying an additional 678 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its stake in Energen Corp. by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 50,767 shares of the company’s stock valued at $2,081,000 after buying an additional 17,235 shares in the last quarter. Finally, Russell Frank Co raised its stake in Energen Corp. by 45.4% in the fourth quarter. Russell Frank Co now owns 53,383 shares of the company’s stock valued at $2,159,000 after buying an additional 16,664 shares in the last quarter.
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.