Energen (NYSE:EGN) was downgraded by analysts at National Alliance Securities from a “buy” rating to a “hold” rating in a report released on Wednesday, The Fly reports.

Several other brokerages have also commented on EGN. ValuEngine raised Energen from a “hold” rating to a “buy” rating in a report on Tuesday. KLR Group reissued a “buy” rating and set a $91.00 price objective on shares of Energen in a report on Monday, August 20th. SunTrust Banks reaffirmed a “buy” rating and issued a $113.00 target price on shares of Energen in a research note on Thursday, August 16th. Johnson Rice lowered Energen from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Morgan Stanley lowered Energen from an “overweight” rating to an “equal weight” rating and set a $76.00 target price for the company. in a research note on Thursday, July 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.14.

Shares of NYSE EGN opened at $79.36 on Wednesday. Energen has a 12 month low of $47.81 and a 12 month high of $80.35. The company has a quick ratio of 0.50, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The stock has a market cap of $7.55 billion, a PE ratio of 105.81 and a beta of 1.44.

Energen (NYSE:EGN) last issued its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. Energen had a return on equity of 6.83% and a net margin of 35.43%. The company had revenue of $339.65 million during the quarter, compared to analyst estimates of $336.78 million. sell-side analysts anticipate that Energen will post 3.33 EPS for the current year.

In other Energen news, insider Carl C. Icahn bought 647,493 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was bought at an average price of $72.77 per share, for a total transaction of $47,118,065.61. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carl C. Icahn bought 553,577 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were acquired at an average price of $71.37 per share, with a total value of $39,508,790.49. The disclosure for this purchase can be found here. In the last three months, insiders have bought 3,726,727 shares of company stock valued at $268,281,858. Insiders own 1.05% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Energen by 1.0% during the first quarter. BlackRock Inc. now owns 8,655,879 shares of the oil and gas producer’s stock valued at $544,109,000 after acquiring an additional 86,763 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Energen by 9.3% during the first quarter. Franklin Resources Inc. now owns 1,572,411 shares of the oil and gas producer’s stock valued at $98,842,000 after acquiring an additional 133,992 shares in the last quarter. Third Point LLC bought a new position in shares of Energen during the second quarter valued at approximately $98,307,000. Bank of America Corp DE raised its holdings in Energen by 30.0% in the second quarter. Bank of America Corp DE now owns 739,996 shares of the oil and gas producer’s stock worth $53,886,000 after purchasing an additional 170,832 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Energen by 103.5% in the second quarter. Morgan Stanley now owns 686,810 shares of the oil and gas producer’s stock worth $50,014,000 after purchasing an additional 349,259 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

About Energen

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.

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Analyst Recommendations for Energen (NYSE:EGN)

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