Energen Corp. (EGN) Now Covered by Analysts at Mizuho
A number of other research analysts have also recently weighed in on EGN. Canaccord Genuity began coverage on shares of Energen Corp. in a report on Monday, September 19th. They issued a buy rating and a $66.00 price objective for the company. Tudor Pickering upgraded shares of Energen Corp. from a hold rating to a buy rating in a report on Friday, September 16th. Stifel Nicolaus restated a buy rating on shares of Energen Corp. in a report on Wednesday, August 31st. TheStreet upgraded shares of Energen Corp. from a sell rating to a hold rating in a report on Friday, August 26th. Finally, Williams Capital began coverage on shares of Energen Corp. in a report on Monday, August 29th. They issued a buy rating and a $68.00 price objective for the company. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Energen Corp. has a consensus rating of Buy and an average target price of $56.39.
Energen Corp. (NYSE:EGN) traded down 0.267% during midday trading on Wednesday, reaching $58.164. 258,811 shares of the company’s stock traded hands. The firm’s 50-day moving average is $55.85 and its 200-day moving average is $47.31. The company’s market capitalization is $5.65 billion. Energen Corp. has a 1-year low of $20.76 and a 1-year high of $61.98.
Energen Corp. (NYSE:EGN) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. The business earned $105.80 million during the quarter, compared to analysts’ expectations of $144.31 million. During the same period last year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was down 37.1% on a year-over-year basis. Analysts forecast that Energen Corp. will post ($1.38) earnings per share for the current year.
In other news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $52.58, for a total transaction 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 1.02% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in 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 during the period. BlackRock Fund Advisors increased its stake in Energen Corp. by 21.3% in the first quarter. BlackRock Fund Advisors now owns 3,362,166 shares of the company’s stock worth $123,022,000 after buying an additional 589,613 shares during the period. Goldman Sachs Group Inc. increased its stake in Energen Corp. by 340.0% in the first quarter. Goldman Sachs Group Inc. now owns 659,076 shares of the company’s stock worth $24,116,000 after buying an additional 509,271 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Energen Corp. by 3,371.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 520,790 shares of the company’s stock worth $19,056,000 after buying an additional 505,790 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Energen Corp. by 18.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,772,451 shares of the company’s stock worth $101,444,000 after buying an additional 423,441 shares during the period. 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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