Energen (NYSE:EGN) has been given a $72.00 target price by stock analysts at Mizuho in a research note issued on Tuesday. The firm presently has a “buy” rating on the oil and gas producer’s stock. Mizuho’s price target indicates a potential upside of 24.55% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. Scotiabank restated a “buy” rating and set a $63.00 price target on shares of Energen in a report on Wednesday, November 22nd. Jefferies Group started coverage on shares of Energen in a report on Monday, October 9th. They set a “buy” rating and a $68.00 price target on the stock. Stifel Nicolaus set a $80.00 price target on shares of Energen and gave the company a “buy” rating in a report on Thursday, October 5th. SunTrust Banks restated a “buy” rating and set a $70.00 price target on shares of Energen in a report on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of Energen from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.95.
Shares of Energen (NYSE:EGN) opened at $57.81 on Tuesday. 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, Director Lori A. Lancaster acquired 1,000 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were purchased at an average price of $57.79 per share, for a total transaction of $57,790.00. Following the purchase, the director now owns 1,000 shares in the company, valued at $57,790. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were 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. 1.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in EGN. Cibc World Markets Corp grew its position in Energen by 1,674.3% in the second quarter. Cibc World Markets Corp now owns 621,000 shares of the oil and gas producer’s stock worth $30,659,000 after acquiring an additional 586,000 shares in the last quarter. Bank of Nova Scotia bought a new stake in Energen in the second quarter worth approximately $20,241,000. Scout Investments Inc. bought a new stake in Energen in the third quarter worth approximately $21,713,000. Highbridge Capital Management LLC bought a new stake in Energen in the third quarter worth approximately $15,830,000. Finally, Caxton Associates LP bought a new stake in Energen in the second quarter worth approximately $13,911,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.
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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