Shares of Energen Corp. (NYSE:EGN) have received a consensus rating of “Buy” from the thirty brokerages that are currently covering the firm. Twelve research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $55.36.
Several analysts recently issued reports on EGN shares. Canaccord Genuity started coverage on shares of Energen Corp. in a report on Monday, September 19th. They issued a “buy” rating and a $66.00 price objective on the stock. TheStreet upgraded shares of Energen Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Wunderlich boosted their price target on shares of Energen Corp. from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Stifel Nicolaus began coverage on shares of Energen Corp. in a research note on Thursday, June 16th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Energen Corp. from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Wednesday, July 6th.
Shares of Energen Corp. (NYSE:EGN) opened at 57.72 on Friday. The firm’s market capitalization is $5.60 billion. Energen Corp. has a 1-year low of $20.76 and a 1-year high of $61.98. The company has a 50-day moving average of $55.50 and a 200-day moving average of $46.71.
Energen Corp. (NYSE:EGN) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.09. The firm had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. Energen Corp.’s revenue was down 37.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Equities research analysts predict that Energen Corp. will post ($1.38) EPS for the current fiscal year.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the completion of the transaction, the chairman now owns 103,789 shares in the company, valued at $5,457,225.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.02% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new position in Energen Corp. during the first quarter valued at about $1,098,000. AXA acquired a new position in Energen Corp. during the first quarter valued at about $4,178,000. UBS Group AG boosted its position in Energen Corp. by 113.3% in the first quarter. UBS Group AG now owns 77,717 shares of the company’s stock valued at $2,844,000 after buying an additional 41,276 shares during the last quarter. Rafferty Asset Management LLC acquired a new position in Energen Corp. during the first quarter valued at about $585,000. Finally, State Street Corp boosted its position in Energen Corp. by 6.5% in the first quarter. State Street Corp now owns 3,247,954 shares of the company’s stock valued at $118,838,000 after buying an additional 197,696 shares during the last quarter. Hedge funds and other institutional investors own 93.37% of the company’s stock.
Energen Corp. Company Profile
Energen Corporation (Energen) 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 in the Permian Basin in west Texas and the San Juan Basin in New Mexico. It is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin.
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