Energen (NYSE:EGN) had its price objective upped by Morgan Stanley from $73.00 to $79.00 in a research note issued on Friday. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective indicates a potential upside of 16.04% from the stock’s previous close.
Other analysts have also recently issued research reports about the stock. Imperial Capital reiterated an “outperform” rating and set a $72.00 price target (up previously from $68.00) on shares of Energen in a research note on Wednesday, February 21st. Deutsche Bank began coverage on shares of Energen in a research note on Thursday, February 1st. They set a “buy” rating and a $70.00 price target for the company. Seaport Global Securities upgraded shares of Energen from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Jefferies Group set a $80.00 price target on shares of Energen and gave the stock a “buy” rating in a research note on Monday, March 19th. Finally, Stephens reiterated a “buy” rating and set a $74.00 price target on shares of Energen in a research note on Thursday, March 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Energen has an average rating of “Buy” and a consensus price target of $69.86.
Shares of NYSE:EGN opened at $68.08 on Friday. The firm has a market cap of $6,640.08, a P/E ratio of 90.77 and a beta of 1.41. The company has a quick ratio of 0.55, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. Energen has a 1-year low of $46.16 and a 1-year high of $69.24.
In related news, Director Jonathan Z. Cohen acquired 17,500 shares of Energen stock in a transaction that occurred on Friday, March 9th. The stock was purchased at an average price of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at $1,003,800. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman J T. Mcmanus sold 3,116 shares of the firm’s stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $58.06, for a total transaction of $180,914.96. Following the completion of the sale, the chairman now owns 115,794 shares of the company’s stock, valued at approximately $6,722,999.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. SeaCrest Wealth Management LLC purchased a new position in Energen during the 4th quarter valued at about $109,000. Amundi Pioneer Asset Management Inc. purchased a new position in Energen during the 4th quarter valued at about $115,000. Cerebellum GP LLC purchased a new position in Energen during the 4th quarter valued at about $125,000. Calton & Associates Inc. purchased a new position in Energen during the 4th quarter valued at about $185,000. Finally, ZWJ Investment Counsel Inc. purchased a new position in Energen during the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 93.58% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was reported by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://www.tickerreport.com/banking-finance/3373497/energen-egn-price-target-raised-to-79-00.html.
Energen Company Profile
Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations within the Midland Basin, the Delaware Basin, and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico.
Receive News & Ratings for Energen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energen and related companies with MarketBeat.com's FREE daily email newsletter.