Energen (EGN) Earns Buy Rating from Stephens

Energen (NYSE:EGN)‘s stock had its “buy” rating restated by investment analysts at Stephens in a research note issued to investors on Tuesday. They currently have a $92.00 price objective on the oil and gas producer’s stock. Stephens’ price target suggests a potential upside of 38.78% from the company’s current price.

EGN has been the topic of a number of other research reports. Stifel Nicolaus set a $85.00 price target on shares of Energen and gave the stock a “buy” rating in a report on Monday, January 29th. UBS assumed coverage on shares of Energen in a report on Wednesday, March 7th. They issued a “neutral” rating and a $62.00 price target on the stock. ValuEngine lowered shares of Energen from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Energen from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Wednesday, April 18th. Finally, Seaport Global Securities raised shares of Energen from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $70.64.

Shares of EGN stock traded down $2.02 on Tuesday, hitting $66.29. 1,444,391 shares of the company’s stock traded hands, compared to its average volume of 1,088,452. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.55 and a current ratio of 0.59. Energen has a one year low of $46.16 and a one year high of $69.24. The firm has a market cap of $6,596.25, a P/E ratio of 88.39 and a beta of 1.41.

Energen (NYSE:EGN) last announced its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.22. The business had revenue of $271.80 million for the quarter, compared to analyst estimates of $303.95 million. Energen had a net margin of 30.12% and a return on equity of 2.27%. The company’s revenue was up 137.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.27) EPS. analysts forecast that Energen will post 3.39 EPS for the current year.

In related news, Director Jonathan Z. Cohen bought 17,500 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were purchased at an average price of $57.36 per share, with a total value of $1,003,800.00. Following the purchase, the director now owns 17,500 shares of the company’s stock, valued at approximately $1,003,800. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Godsey sold 6,000 shares of Energen stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $57.77, for a total transaction of $346,620.00. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in Energen by 5.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,071 shares of the oil and gas producer’s stock valued at $1,212,000 after acquiring an additional 1,155 shares during the period. William Blair Investment Management LLC lifted its position in Energen by 19.7% during the 4th quarter. William Blair Investment Management LLC now owns 37,814 shares of the oil and gas producer’s stock valued at $2,177,000 after acquiring an additional 6,226 shares during the period. MetLife Investment Advisors LLC purchased a new position in Energen during the 4th quarter valued at about $3,540,000. Millennium Management LLC lifted its position in Energen by 86.2% during the 4th quarter. Millennium Management LLC now owns 2,928,514 shares of the oil and gas producer’s stock valued at $168,595,000 after acquiring an additional 1,355,480 shares during the period. Finally, Flinton Capital Management LLC lifted its position in Energen by 18.0% during the 4th quarter. Flinton Capital Management LLC now owns 6,384 shares of the oil and gas producer’s stock valued at $368,000 after acquiring an additional 976 shares during the period. 93.56% of the stock is currently owned by hedge funds and other institutional investors.

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About Energen

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.

Analyst Recommendations for Energen (NYSE:EGN)

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