Energen Corporation (EGN) Receives “Buy” Rating from Williams Capital

Energen Corporation (NYSE:EGN)‘s stock had its “buy” rating reissued by Williams Capital in a research note issued on Monday, May 15th, StockTargetPrices.com reports. They currently have a $72.00 price target on the oil and gas producer’s stock. Williams Capital’s price target would suggest a potential upside of 38.73% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Scotiabank reissued a “buy” rating and set a $64.00 target price on shares of Energen Corporation in a research report on Monday, May 15th. BMO Capital Markets reissued a “hold” rating and set a $70.00 target price on shares of Energen Corporation in a research report on Monday, May 15th. TheStreet raised shares of Energen Corporation from a “d+” rating to a “c-” rating in a research report on Thursday, May 4th. Citigroup Inc. reissued a “neutral” rating and set a $62.00 target price (up previously from $61.00) on shares of Energen Corporation in a research report on Saturday, April 22nd. Finally, Royal Bank of Canada set a $66.00 target price on shares of Energen Corporation and gave the company a “hold” rating in a research report on Thursday, April 20th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Energen Corporation presently has a consensus rating of “Buy” and an average price target of $68.83.

Analyst Recommendations for Energen Corporation (NYSE:EGN)

Energen Corporation (NYSE EGN) traded down 0.21% during midday trading on Monday, reaching $51.90. 2,201,722 shares of the company’s stock traded hands. The company has a market cap of $5.04 billion, a P/E ratio of 73.51 and a beta of 1.88. The stock has a 50-day moving average of $54.56 and a 200 day moving average of $55.00. Energen Corporation has a 52-week low of $43.29 and a 52-week high of $64.43.

Energen Corporation (NYSE:EGN) last released its earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $240.90 million for the quarter, compared to analyst estimates of $166.69 million. Energen Corporation had a net margin of 10.69% and a negative return on equity of 2.79%. The business’s revenue for the quarter was up 87.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.64) EPS. On average, analysts anticipate that Energen Corporation will post $0.61 earnings per share for the current fiscal year.

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In related news, VP Charles W. Porter sold 6,000 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $54.60, for a total value of $327,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Sprott Inc. purchased a new position in shares of Energen Corporation during the third quarter worth about $2,886,000. CarVal Investors LLC purchased a new position in shares of Energen Corporation during the first quarter worth about $5,444,000. World Asset Management Inc boosted its position in shares of Energen Corporation by 1.8% in the first quarter. World Asset Management Inc now owns 6,588 shares of the oil and gas producer’s stock worth $359,000 after buying an additional 114 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in shares of Energen Corporation by 52.3% in the third quarter. Tocqueville Asset Management L.P. now owns 33,500 shares of the oil and gas producer’s stock worth $1,934,000 after buying an additional 11,500 shares in the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Energen Corporation by 232.4% in the fourth quarter. Janus Capital Management LLC now owns 34,900 shares of the oil and gas producer’s stock worth $2,013,000 after buying an additional 24,400 shares in the last quarter. Institutional investors own 94.43% of the company’s stock.

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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