Energen Corp. (EGN) Shares Gap Up to $55.21
Energen Corp. (NYSE:EGN) shares gapped up prior to trading on Thursday . The stock had previously closed at $55.17, but opened at $55.21. Energen Corp. shares last traded at $56.81, with a volume of 608,844 shares traded.
A number of research analysts have recently weighed in on the company. Topeka Capital Markets lifted their price objective on Energen Corp. from $35.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 6th. Wunderlich lifted their price objective on Energen Corp. from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Deutsche Bank AG lifted their price objective on Energen Corp. from $50.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. Citigroup Inc. lifted their price objective on Energen Corp. from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Finally, Royal Bank Of Canada lifted 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. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $54.68.
The firm has a 50 day moving average of $49.18 and a 200 day moving average of $40.85. The stock’s market capitalization is $5.51 billion.
Energen Corp. (NYSE:EGN) last announced its earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. During the same period in the previous year, the company earned $0.10 EPS. The firm had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. Energen Corp.’s revenue was down 37.1% compared to the same quarter last year. On average, equities analysts predict that Energen Corp. will post ($1.40) earnings per share for the current fiscal year.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total transaction of $537,157.28. Following the completion of the transaction, 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 available through this hyperlink. Also, Director Magnus James Gorrie bought 1,000 shares of Energen Corp. stock in a transaction on Friday, June 24th. The shares were purchased at an average cost of $47.26 per share, with a total value of $47,260.00. Following the acquisition, the director now directly owns 7,900 shares of the company’s stock, valued at $373,354. The disclosure for this purchase can be found here.
Several large investors recently bought and sold shares of the stock. RS Investment Management Co. LLC bought a new stake in Energen Corp. during the fourth quarter valued at approximately $4,890,000. BlackRock Advisors LLC boosted its stake in Energen Corp. by 47.2% in the fourth quarter. BlackRock Advisors LLC now owns 578,373 shares of the company’s stock valued at $23,708,000 after buying an additional 185,471 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Energen Corp. by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 311,066 shares of the company’s stock valued at $12,750,000 after buying an additional 7,222 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.
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