Energen Corporation (NYSE:EGN) has been given a $60.00 price objective by equities research analysts at BMO Capital Markets in a report issued on Tuesday. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. BMO Capital Markets’ price objective suggests a potential upside of 12.91% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. Jefferies Group LLC assumed coverage on shares of Energen Corporation in a research report on Monday. They set a “buy” rating and a $68.00 price target for the company. Stifel Nicolaus set a $80.00 price target on shares of Energen Corporation and gave the company a “buy” rating in a research report on Thursday, October 5th. SunTrust Banks, Inc. reissued a “buy” rating and set a $70.00 price target on shares of Energen Corporation in a research report on Monday, October 2nd. Mizuho reissued a “buy” rating and set a $69.00 price target on shares of Energen Corporation in a research report on Friday, September 29th. Finally, Morgan Stanley lifted their price target on shares of Energen Corporation from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, August 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $66.21.
Shares of Energen Corporation (EGN) opened at 53.14 on Tuesday. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 84.08 and a beta of 1.95. The company has a 50 day moving average of $52.42 and a 200-day moving average of $52.27. Energen Corporation has a 12-month low of $46.16 and a 12-month high of $64.43.
Energen Corporation (NYSE:EGN) last announced its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The firm had revenue of $256.82 million for the quarter, compared to analyst estimates of $222.60 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The company’s revenue for the quarter was up 142.8% compared to the same quarter last year. Analysts predict that Energen Corporation will post $0.41 EPS for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley raised its holdings in shares of Energen Corporation by 11.7% during the first quarter. Morgan Stanley now owns 226,536 shares of the oil and gas producer’s stock valued at $12,333,000 after purchasing an additional 23,656 shares during the last quarter. Janus Capital Management LLC raised its holdings in shares of Energen Corporation by 60.5% during the first quarter. Janus Capital Management LLC now owns 56,000 shares of the oil and gas producer’s stock valued at $3,049,000 after purchasing an additional 21,100 shares during the last quarter. Chicago Equity Partners LLC raised its holdings in shares of Energen Corporation by 170.6% during the second quarter. Chicago Equity Partners LLC now owns 88,670 shares of the oil and gas producer’s stock valued at $4,378,000 after purchasing an additional 55,905 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Energen Corporation during the second quarter valued at approximately $1,146,000. Finally, First Trust Advisors LP purchased a new position in shares of Energen Corporation during the second quarter valued at approximately $4,944,000. 94.01% of the stock is 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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