Barclays PLC restated their hold rating on shares of Energen Co. (NYSE:EGN) in a report published on Thursday morning. Barclays PLC currently has a $57.00 target price on the oil and gas producer’s stock.
EGN has been the subject of several other research reports. Royal Bank of Canada restated a hold rating and issued a $66.00 price objective on shares of Energen in a report on Friday, March 17th. Canaccord Genuity restated a buy rating and issued a $72.00 price objective on shares of Energen in a report on Thursday, February 2nd. Drexel Hamilton restated a buy rating and issued a $71.00 price objective on shares of Energen in a report on Wednesday, December 21st. Zacks Investment Research upgraded Energen from a hold rating to a buy rating and set a $59.00 price objective for the company in a report on Tuesday, March 21st. Finally, Deutsche Bank AG cut their price objective on Energen from $64.00 to $62.00 and set a hold rating for the company in a report on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Energen presently has a consensus rating of Buy and an average target price of $64.39.
Shares of Energen (NYSE:EGN) traded down 0.21% during midday trading on Thursday, hitting $51.63. The company had a trading volume of 1,001,750 shares. Energen has a 12 month low of $38.11 and a 12 month high of $64.43. The stock’s 50-day moving average price is $52.82 and its 200-day moving average price is $55.38. The company’s market cap is $5.02 billion.
Energen (NYSE:EGN) last announced its quarterly earnings data on Thursday, February 9th. The oil and gas producer reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.04. The firm earned $114.52 million during the quarter, compared to analyst estimates of $156.01 million. Energen had a negative net margin of 31.43% and a negative return on equity of 4.19%. The company’s quarterly revenue was down 40.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. On average, equities research analysts forecast that Energen will post $0.50 EPS for the current year.
In other Energen news, Chairman J T. Mcmanus sold 16,662 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $57.10, for a total value of $951,400.20. Following the transaction, the chairman now directly owns 125,107 shares of the company’s stock, valued at approximately $7,143,609.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Charles W. Porter sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $54.60, for a total value of $327,600.00. The disclosure for this sale can be found here. Insiders have sold 32,895 shares of company stock worth $1,831,492 over the last three months. 1.02% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of EGN. DekaBank Deutsche Girozentrale purchased a new position in shares of Energen during the third quarter valued at $115,000. Flinton Capital Management LLC purchased a new position in shares of Energen during the fourth quarter valued at $153,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Energen by 14.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,013 shares of the oil and gas producer’s stock valued at $174,000 after buying an additional 379 shares during the last quarter. 1492 Capital Management LLC purchased a new position in shares of Energen during the third quarter valued at $205,000. Finally, Cigna Investments Inc. New purchased a new position in shares of Energen during the fourth quarter valued at $208,000. 92.70% of the stock is currently owned by institutional investors.
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.
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