Energen Corporation (EGN) Lifted to Neutral at Seaport Global Securities
Energen Corporation (NYSE:EGN) was upgraded by Seaport Global Securities from a “sell” rating to a “neutral” rating in a research note issued on Friday. The firm presently has a $46.00 price objective on the oil and gas producer’s stock. Seaport Global Securities’ price objective suggests a potential downside of 5.74% from the stock’s previous close.
EGN has been the topic of a number of other reports. TheStreet raised shares of Energen Corporation from a “d+” rating to a “c-” rating in a research report on Thursday, May 4th. BMO Capital Markets reissued a “hold” rating and issued a $70.00 target price on shares of Energen Corporation in a report on Thursday, June 22nd. ValuEngine raised shares of Energen Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised shares of Energen Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada set a $65.00 target price on shares of Energen Corporation and gave the company a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $66.59.
Shares of Energen Corporation (NYSE:EGN) traded up 0.82% during midday trading on Friday, hitting $49.20. The stock had a trading volume of 156,422 shares. The firm has a 50 day moving average of $49.89 and a 200-day moving average of $52.72. The company has a market cap of $4.78 billion, a P/E ratio of 77.85 and a beta of 1.93. Energen Corporation has a one year low of $46.16 and a one year high of $64.44.
Energen Corporation (NYSE:EGN) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The business had revenue of $256.82 million for the quarter, compared to analyst estimates of $222.60 million. During the same period last year, the firm earned ($0.28) earnings per share. Energen Corporation’s revenue for the quarter was up 142.8% compared to the same quarter last year. On average, analysts forecast that Energen Corporation will post $0.45 earnings per share for the current fiscal year.
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In other news, Director Alan A. Kleier acquired 1,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were purchased at an average cost of $47.59 per share, with a total value of $47,590.00. Following the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at $71,385. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Thrivent Financial For Lutherans increased its position in Energen Corporation by 8.1% in the second quarter. Thrivent Financial For Lutherans now owns 19,710 shares of the oil and gas producer’s stock worth $973,000 after buying an additional 1,480 shares in the last quarter. Stevens Capital Management LP increased its position in Energen Corporation by 74.1% in the second quarter. Stevens Capital Management LP now owns 58,815 shares of the oil and gas producer’s stock worth $2,904,000 after buying an additional 25,036 shares in the last quarter. BT Investment Management Ltd purchased a new position in Energen Corporation during the second quarter worth about $272,000. Amalgamated Bank increased its position in Energen Corporation by 24.4% in the second quarter. Amalgamated Bank now owns 18,133 shares of the oil and gas producer’s stock worth $895,000 after buying an additional 3,557 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Energen Corporation by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 492,621 shares of the oil and gas producer’s stock worth $24,322,000 after buying an additional 46,254 shares in the last quarter. 95.64% of the stock is currently owned by hedge funds and other institutional investors.
Energen Corporation Company Profile
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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