Energen (EGN) Stock Rating Upgraded by Bank of America
Bank of America upgraded shares of Energen (NYSE:EGN) from a neutral rating to a buy rating in a research note published on Thursday morning, Marketbeat Ratings reports.
A number of other research firms have also commented on EGN. Mizuho set a $72.00 price target on shares of Energen and gave the stock a buy rating in a research report on Tuesday, January 16th. Stifel Nicolaus set a $99.00 price target on shares of Energen and gave the stock a buy rating in a research report on Wednesday, March 28th. Zacks Investment Research lowered shares of Energen from a buy rating to a hold rating in a research report on Tuesday, April 24th. Morgan Stanley raised shares of Energen from an equal weight rating to an overweight rating and set a $75.00 price target on the stock in a research report on Wednesday, January 24th. Finally, Deutsche Bank initiated coverage on shares of Energen in a research report on Thursday, February 1st. They set a buy rating and a $70.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $70.82.
Shares of Energen opened at $67.18 on Thursday, according to Marketbeat Ratings. The stock has a market capitalization of $6.55 billion, a PE ratio of 39.52 and a beta of 1.43. Energen has a fifty-two week low of $46.16 and a fifty-two week high of $70.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.48 and a current ratio of 0.53.
Energen (NYSE:EGN) last issued its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.04. Energen had a net margin of 34.60% and a return on equity of 4.95%. The company had revenue of $356.17 million for the quarter, compared to analyst estimates of $335.96 million. During the same period in the prior year, the firm earned ($0.13) earnings per share. The company’s revenue was up 47.8% on a year-over-year basis. equities research analysts anticipate that Energen will post 3.55 EPS for the current fiscal year.
In other news, Chairman J T. Mcmanus sold 3,116 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $58.06, for a total value of $180,914.96. Following the sale, the chairman now directly owns 115,794 shares in the company, valued at approximately $6,722,999.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan Z. Cohen purchased 17,500 shares of Energen stock in a transaction dated Friday, March 9th. The stock was bought at an average price of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the purchase, the director now owns 17,500 shares in the company, valued at approximately $1,003,800. The disclosure for this purchase can be found here. 1.05% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of EGN. SeaCrest Wealth Management LLC acquired a new stake in shares of Energen in the 4th quarter valued at approximately $109,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Energen in the 4th quarter valued at approximately $115,000. Cerebellum GP LLC acquired a new stake in shares of Energen in the 4th quarter valued at approximately $125,000. Calton & Associates Inc. acquired a new stake in shares of Energen in the 4th quarter valued at approximately $185,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Energen by 137.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 3,111 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.
Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations within the Midland Basin, the Delaware Basin, and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico.