Energen Corp. (EGN) Given New $70.00 Price Target at Wunderlich
Several other equities research analysts also recently weighed in on EGN. Deutsche Bank AG raised their price objective on Energen Corp. from $43.00 to $48.00 and gave the company a hold rating in a report on Tuesday, June 14th. Stifel Nicolaus assumed coverage on Energen Corp. in a report on Thursday, June 16th. They set a buy rating and a $55.00 target price on the stock. Barclays PLC assumed coverage on Energen Corp. in a report on Tuesday, June 21st. They set an equal weight rating and a $50.00 target price on the stock. Royal Bank Of Canada lifted their target price on Energen Corp. from $43.00 to $48.00 and gave the stock a sector perform rating in a report on Tuesday, June 21st. Finally, Credit Suisse Group AG lifted their target price on Energen Corp. from $48.00 to $57.00 and gave the stock an outperform rating in a report on Tuesday, June 21st. Twelve research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $56.39.
Energen Corp. (NYSE:EGN) traded down 1.06% on Thursday, hitting $57.72. The company had a trading volume of 275,728 shares. The company’s market capitalization is $5.60 billion. Energen Corp. has a one year low of $20.76 and a one year high of $61.98. The stock’s 50-day moving average price is $55.94 and its 200 day moving average price is $47.39.
Energen Corp. (NYSE:EGN) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.09. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The company had revenue of $105.80 million for the quarter, compared to the consensus estimate of $144.31 million. During the same quarter last year, the business posted $0.10 EPS. Energen Corp.’s revenue for the quarter was down 37.1% on a year-over-year basis. On average, analysts expect that Energen Corp. will post ($1.37) EPS for the current fiscal year.
In other news, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the transaction, the chairman now owns 103,789 shares in the company, valued at approximately $5,457,225.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.02% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. 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 valued at $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 valued at $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 valued at $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 valued at $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 valued at $101,444,000 after buying an additional 423,441 shares during the period. Institutional investors 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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