Energen Corp. (NYSE:EGN) had its target price hoisted by investment analysts at Wunderlich from $63.00 to $70.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the stock. Wunderlich’s target price suggests a potential upside of 22.53% from the stock’s previous close.
A number of other brokerages also recently weighed in on EGN. Stifel Nicolaus lifted their target price on Energen Corp. from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. RBC Capital Markets reiterated a “sector perform” rating and issued a $54.00 target price (up from $50.00) on shares of Energen Corp. in a report on Thursday, August 11th. Royal Bank Of Canada lifted their target price on Energen Corp. from $50.00 to $54.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 10th. Deutsche Bank AG lifted their target price on Energen Corp. from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Tuesday, June 14th. Finally, Barclays PLC assumed coverage on Energen Corp. in a report on Tuesday, June 21st. They issued an “equal weight” rating and a $50.00 target price for the company. Twelve analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.39.
Shares of Energen Corp. (NYSE:EGN) opened at 57.13 on Thursday. Energen Corp. has a 12-month low of $20.76 and a 12-month high of $61.98. The firm’s market cap is $5.55 billion. The stock has a 50 day moving average price of $55.95 and a 200 day moving average price of $47.55.
Energen Corp. (NYSE:EGN) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.09. The company had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The firm’s quarterly revenue was down 37.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. On average, equities analysts expect that Energen Corp. will post ($1.37) earnings per share for the current year.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the transaction, the chairman now directly owns 103,789 shares in the company, valued at approximately $5,457,225.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.02% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Energen Corp. by 23.0% in the first quarter. JPMorgan Chase & Co. now owns 10,866,300 shares of the company’s stock worth $397,597,000 after buying an additional 2,034,422 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Energen Corp. by 4.3% in the second quarter. Vanguard Group Inc. now owns 7,517,189 shares of the company’s stock worth $362,405,000 after buying an additional 310,178 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Energen Corp. by 5.1% in the second quarter. BlackRock Fund Advisors now owns 3,533,440 shares of the company’s stock worth $170,347,000 after buying an additional 171,274 shares in the last quarter. State Street Corp raised its position in shares of Energen Corp. by 6.5% in the first quarter. State Street Corp now owns 3,247,954 shares of the company’s stock worth $118,838,000 after buying an additional 197,696 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Energen Corp. by 6.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,941,452 shares of the company’s stock worth $141,807,000 after buying an additional 169,001 shares in the last quarter. Institutional investors and hedge funds own 93.37% of the company’s stock.
About Energen Corp.
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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