Energen (EGN) Price Target Cut to $73.00
Energen (NYSE:EGN) had its price target reduced by investment analysts at Morgan Stanley from $75.00 to $73.00 in a note issued to investors on Wednesday. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective suggests a potential upside of 48.10% from the stock’s current price.
Other research analysts also recently issued reports about the company. Mizuho set a $72.00 price target on Energen and gave the company a “buy” rating in a report on Tuesday, January 16th. Scotiabank reaffirmed a “buy” rating and set a $63.00 price target on shares of Energen in a report on Wednesday, November 22nd. Zacks Investment Research raised Energen from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, October 12th. KeyCorp set a $70.00 price target on Energen and gave the company a “buy” rating in a report on Sunday, January 21st. Finally, Seaport Global Securities raised Energen from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Energen currently has a consensus rating of “Buy” and a consensus target price of $66.29.
Energen (NYSE EGN) opened at $49.29 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.53 and a current ratio of 0.58. Energen has a 1-year low of $46.16 and a 1-year high of $60.07.
Institutional investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC purchased a new stake in Energen during the fourth quarter valued at $109,000. Cerebellum GP LLC purchased a new stake in Energen in the fourth quarter worth about $125,000. Calton & Associates Inc. purchased a new stake in Energen in the fourth quarter worth about $185,000. ZWJ Investment Counsel Inc. purchased a new stake in Energen in the fourth quarter worth about $201,000. Finally, Cadence Capital Management LLC purchased a new stake in Energen in the third quarter worth about $203,000. Institutional investors own 96.35% of the company’s stock.
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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