Energen Corporation (NYSE:EGN)‘s stock had its “buy” rating reaffirmed by research analysts at Scotiabank in a note issued to investors on Friday, June 30th. They presently have a $56.00 target price on the oil and gas producer’s stock. Scotiabank’s target price suggests a potential upside of 3.67% from the company’s previous close.
Several other brokerages also recently weighed in on EGN. Barclays PLC restated a “hold” rating and set a $63.00 price target on shares of Energen Corporation in a report on Wednesday, May 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $70.00 price objective on shares of Energen Corporation in a research report on Friday, May 5th. Williams Capital increased their price objective on Energen Corporation from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $81.00 price objective on shares of Energen Corporation in a research report on Friday, May 26th. Finally, Seaport Global Securities cut Energen Corporation from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $61.00 to $38.00 in a research report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Energen Corporation currently has a consensus rating of “Hold” and a consensus target price of $66.68.
Energen Corporation (NYSE:EGN) traded up 0.80% during trading on Friday, reaching $54.02. 1,115,270 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $50.44 and a 200-day moving average of $53.05. Energen Corporation has a 12 month low of $44.73 and a 12 month high of $64.43. The stock has a market cap of $5.25 billion, a PE ratio of 76.52 and a beta of 1.93.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by $0.01. Energen Corporation had a net margin of 10.69% and a negative return on equity of 2.79%. The company had revenue of $240.90 million for the quarter, compared to the consensus estimate of $166.69 million. During the same quarter in the previous year, the business earned ($0.64) earnings per share. Energen Corporation’s revenue was up 87.9% compared to the same quarter last year. On average, equities research analysts anticipate that Energen Corporation will post $0.44 earnings per share for the current fiscal year.
In related news, Director Alan A. Kleier bought 1,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were purchased at an average price of $47.59 per share, with a total value of $47,590.00. Following the transaction, the director now owns 1,500 shares in the company, valued at approximately $71,385. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its position in Energen Corporation by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 24,500 shares of the oil and gas producer’s stock valued at $1,334,000 after buying an additional 500 shares in the last quarter. Capstone Asset Management Co. increased its position in Energen Corporation by 7.2% in the first quarter. Capstone Asset Management Co. now owns 8,582 shares of the oil and gas producer’s stock valued at $467,000 after buying an additional 580 shares in the last quarter. Macquarie Group Ltd. bought a new position in Energen Corporation during the fourth quarter valued at $6,206,000. Norges Bank bought a new position in Energen Corporation during the fourth quarter valued at $41,885,000. Finally, Thrivent Financial for Lutherans increased its position in Energen Corporation by 8.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,510 shares of the oil and gas producer’s stock valued at $952,000 after buying an additional 1,280 shares in the last quarter. 95.24% of the stock is currently owned by hedge funds and other institutional investors.
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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