Energen Corporation (NYSE:EGN)‘s stock had its “buy” rating reiterated by analysts at Scotiabank in a report issued on Wednesday. They currently have a $63.00 target price on the oil and gas producer’s stock. Scotiabank’s target price suggests a potential upside of 14.07% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on EGN. Zacks Investment Research cut shares of Energen Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Williams Capital set a $76.00 price target on Energen Corporation and gave the stock a “buy” rating in a report on Tuesday, August 8th. BMO Capital Markets set a $60.00 price target on Energen Corporation and gave the stock a “hold” rating in a report on Thursday, August 10th. Seaport Global Securities upgraded shares of Energen Corporation from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $38.00 to $46.00 in a report on Friday, August 11th. Finally, Citigroup Inc. reduced their price objective on shares of Energen Corporation from $58.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. Energen Corporation presently has an average rating of “Hold” and an average price target of $66.17.
Energen Corporation (NYSE:EGN) opened at $55.23 on Wednesday. Energen Corporation has a 1 year low of $46.16 and a 1 year high of $64.44. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24.
Energen Corporation (NYSE:EGN) last released its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Energen Corporation had a negative net margin of 1.17% and a negative return on equity of 0.45%. The firm had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $242.81 million. During the same quarter last year, the company earned ($0.22) EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. analysts forecast that Energen Corporation will post 0.41 earnings per share for the current fiscal year.
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In other news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $57.01, for a total value of $142,525.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Creative Planning grew its holdings in shares of Energen Corporation by 8.0% during the second quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock valued at $167,000 after buying an additional 250 shares in the last quarter. Cadence Capital Management LLC purchased a new position in shares of Energen Corporation during the third quarter valued at $203,000. BB&T Securities LLC purchased a new position in shares of Energen Corporation during the third quarter valued at $206,000. Boothbay Fund Management LLC purchased a new position in shares of Energen Corporation during the third quarter valued at $209,000. Finally, Ironwood Investment Counsel LLC purchased a new position in shares of Energen Corporation during the third quarter valued at $219,000. Institutional investors and hedge funds own 97.21% 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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