Energen (EGN) Price Target Cut to $73.00

Energen (NYSE:EGN) had its target price cut by Morgan Stanley from $75.00 to $73.00 in a research note published on Wednesday. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other analysts also recently commented on the stock. ValuEngine downgraded shares of Energen from a hold rating to a sell rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Energen from a hold rating to a strong-buy rating and set a $60.00 price objective on the stock in a report on Thursday, February 1st. Deutsche Bank started coverage on shares of Energen in a report on Thursday, February 1st. They set a buy rating and a $70.00 price objective on the stock. Stifel Nicolaus set a $85.00 price target on shares of Energen and gave the company a buy rating in a report on Monday, January 29th. Finally, Seaport Global Securities raised shares of Energen from a neutral rating to a buy rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Energen presently has a consensus rating of Buy and an average price target of $66.29.

Shares of Energen (EGN) opened at $51.83 on Wednesday. The company has a market cap of $5,178.92, a PE ratio of -471.18 and a beta of 1.73. Energen has a fifty-two week low of $46.16 and a fifty-two week high of $60.07. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.24.

In related news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $57.01, for a total transaction of $142,525.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Corvex Management Lp sold 80,294 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $57.56, for a total transaction of $4,621,722.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. SeaCrest Wealth Management LLC acquired a new position in Energen during the fourth quarter worth approximately $109,000. Cerebellum GP LLC acquired a new position in Energen during the fourth quarter worth approximately $125,000. Calton & Associates Inc. acquired a new position in Energen during the fourth quarter worth approximately $185,000. ZWJ Investment Counsel Inc. acquired a new position in Energen during the fourth quarter worth approximately $201,000. Finally, Cadence Capital Management LLC acquired a new position in Energen during the third quarter worth approximately $203,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

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Energen 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.

Analyst Recommendations for Energen (NYSE:EGN)

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