Citigroup Inc. Lowers Energen Corporation (NYSE:EGN) Price Target to $55.00
Energen Corporation (NYSE:EGN) had its target price dropped by stock analysts at Citigroup Inc. from $61.00 to $55.00 in a report released on Thursday. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Citigroup Inc.’s target price suggests a potential upside of 11.13% from the company’s current price.
Several other research firms have also issued reports on EGN. Barclays PLC restated a “hold” rating and issued a $63.00 price target on shares of Energen Corporation in a research report on Wednesday, May 24th. BMO Capital Markets restated a “hold” rating and issued a $70.00 price target on shares of Energen Corporation in a research report on Friday, May 5th. Williams Capital raised their price target on shares of Energen Corporation from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Scotiabank reaffirmed a “buy” rating and set a $56.00 price objective on shares of Energen Corporation in a report on Friday, June 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $81.00 price objective on shares of Energen Corporation in a report on Friday, May 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Energen Corporation currently has a consensus rating of “Buy” and an average target price of $67.19.
Energen Corporation (NYSE EGN) opened at 49.49 on Thursday. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 70.10 and a beta of 1.93. Energen Corporation has a one year low of $43.70 and a one year high of $64.43. The firm has a 50-day moving average of $53.71 and a 200-day moving average of $54.29.
Energen Corporation (NYSE:EGN) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $0.01. The company had revenue of $240.90 million during the quarter, compared to analyst estimates of $166.69 million. Energen Corporation had a negative return on equity of 2.79% and a net margin of 10.69%. The business’s revenue for the quarter was up 87.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.64) earnings per share. Analysts anticipate that Energen Corporation will post $0.54 EPS for the current year.
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In other news, Director Alan A. Kleier acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average price of $47.59 per share, for a total transaction of $47,590.00. Following the completion of the acquisition, the director now owns 1,500 shares in the company, valued at $71,385. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of EGN. Credit Agricole S A boosted its position in shares of Energen Corporation by 59.6% in the fourth quarter. Credit Agricole S A now owns 15,065 shares of the oil and gas producer’s stock worth $869,000 after buying an additional 5,625 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Energen Corporation during the fourth quarter worth $10,133,000. Janus Capital Management LLC raised its position in shares of Energen Corporation by 232.4% in the fourth quarter. Janus Capital Management LLC now owns 34,900 shares of the oil and gas producer’s stock worth $2,013,000 after buying an additional 24,400 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Energen Corporation during the fourth quarter worth $411,000. Finally, Guggenheim Capital LLC raised its position in shares of Energen Corporation by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 17,899 shares of the oil and gas producer’s stock worth $1,032,000 after buying an additional 2,424 shares during the last quarter. Hedge funds and other institutional investors own 95.08% of the company’s stock.
About Energen Corporation
Energen Corporation 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. Its operations are conducted through subsidiary, Energen Resources Corporation and occur within the Midland Basin, the Delaware Basin and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico.
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