Energen Corporation (NYSE:EGN)‘s stock had its “buy” rating reaffirmed by stock analysts at Stifel Nicolaus in a research note issued to investors on Friday, May 26th. They currently have a $81.00 price target on the oil and gas producer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 62.88% from the stock’s previous close.
Several other research analysts have also issued reports on EGN. Canaccord Genuity reiterated a “buy” rating and issued a $72.00 price target on shares of Energen Corporation in a report on Thursday, February 2nd. Scotiabank reiterated a “buy” rating and issued a $75.00 price target on shares of Energen Corporation in a report on Friday, February 10th. Zacks Investment Research upgraded Energen Corporation from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Tuesday, February 14th. Argus upgraded Energen Corporation from a “hold” rating to a “buy” rating in a report on Friday, February 24th. Finally, Deutsche Bank AG dropped their target price on Energen Corporation from $64.00 to $62.00 and set a “hold” rating on the stock in a report on Tuesday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $68.58.
Energen Corporation (NYSE:EGN) traded down 4.09% on Friday, hitting $49.73. 3,026,463 shares of the stock were exchanged. Energen Corporation has a one year low of $43.29 and a one year high of $64.43. The company’s 50 day moving average price is $54.56 and its 200-day moving average price is $54.90. The company has a market cap of $4.83 billion, a P/E ratio of 70.44 and a beta of 1.88.
Energen Corporation (NYSE:EGN) last announced its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $0.01. The firm had revenue of $240.90 million during the quarter, compared to the consensus estimate of $166.69 million. Energen Corporation had a negative return on equity of 2.79% and a net margin of 10.69%. The firm’s revenue was up 87.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.64) EPS. Equities research analysts predict that Energen Corporation will post $0.61 EPS for the current fiscal year.
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In other news, VP Charles W. Porter sold 6,000 shares of Energen Corporation stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $54.60, for a total value of $327,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in EGN. Sicart Associates LLC acquired a new position in shares of Energen Corporation during the fourth quarter worth about $231,000. Russell Investments Group Ltd. purchased a new position in Energen Corporation during the fourth quarter worth $5,211,000. Ameritas Investment Partners Inc. increased its position in Energen Corporation by 90.6% in the third quarter. Ameritas Investment Partners Inc. now owns 29,252 shares of the oil and gas producer’s stock worth $1,688,000 after buying an additional 13,904 shares during the period. Lombard Odier Asset Management USA Corp purchased a new position in Energen Corporation during the third quarter worth $2,886,000. Finally, Bamco Inc. NY increased its position in Energen Corporation by 8.0% in the third quarter. Bamco Inc. NY now owns 29,766 shares of the oil and gas producer’s stock worth $1,718,000 after buying an additional 2,200 shares during the period. Institutional investors own 94.02% of the company’s stock.
About Energen Corporation
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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