Credit Suisse Group Begins Coverage on Energen (EGN)
Credit Suisse Group started coverage on shares of Energen (NYSE:EGN) in a research report report published on Monday, Marketbeat reports. The firm issued a neutral rating and a $60.00 price target on the oil and gas producer’s stock.
Several other equities research analysts also recently weighed in on the stock. Barclays set a $57.00 target price on shares of Energen and gave the stock a hold rating in a research note on Tuesday, August 15th. Wells Fargo & Company started coverage on shares of Energen in a research note on Friday, December 1st. They set a hold rating on the stock. Zacks Investment Research raised shares of Energen from a hold rating to a buy rating and set a $60.00 target price on the stock in a research note on Thursday, October 12th. Citigroup cut their target price on shares of Energen from $58.00 to $56.00 and set a neutral rating on the stock in a research note on Tuesday, August 15th. Finally, Imperial Capital initiated coverage on shares of Energen in a research report on Tuesday, August 22nd. They issued an outperform rating and a $61.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $64.91.
Energen (NYSE:EGN) traded down $0.09 during trading hours on Monday, reaching $54.55. 652,300 shares of the company’s stock traded hands, compared to its average volume of 1,315,253. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.24. Energen has a 12 month low of $46.16 and a 12 month high of $60.21.
Energen (NYSE:EGN) last issued its quarterly earnings data on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, topping the consensus estimate of $0.15 by $0.05. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. The firm had revenue of $191.50 million for the quarter, compared to analyst estimates of $242.81 million. During the same period in the prior year, the business posted ($0.22) EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. equities analysts expect that Energen will post 0.47 EPS for the current fiscal year.
In other news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $57.01, for a total value of $142,525.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Aperio Group LLC increased its holdings in Energen by 17.3% during the 2nd quarter. Aperio Group LLC now owns 13,506 shares of the oil and gas producer’s stock valued at $667,000 after acquiring an additional 1,990 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Energen during the 2nd quarter valued at about $423,000. Great West Life Assurance Co. Can increased its holdings in Energen by 0.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 58,112 shares of the oil and gas producer’s stock valued at $2,867,000 after acquiring an additional 520 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Energen by 43.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 434,965 shares of the oil and gas producer’s stock worth $21,475,000 after buying an additional 130,899 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Energen by 1.2% during the second quarter. Arizona State Retirement System now owns 40,900 shares of the oil and gas producer’s stock worth $2,019,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.
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Energen 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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