Energen Corp. (EGN) Price Target Raised to $67.00 at Stifel Nicolaus
Other equities analysts have also issued reports about the company. Royal Bank Of Canada lifted their price objective on Energen Corp. from $43.00 to $48.00 and gave the stock a sector perform rating in a research note on Tuesday, June 21st. Zacks Investment Research lowered Energen Corp. from a buy rating to a hold rating in a research note on Wednesday, August 10th. Citigroup Inc. lifted their price objective on Energen Corp. from $49.00 to $54.00 and gave the stock a neutral rating in a research note on Thursday, August 11th. RBC Capital Markets reaffirmed a sector perform rating and issued a $54.00 price objective (up from $50.00) on shares of Energen Corp. in a research note on Thursday, August 11th. Finally, Williams Capital assumed coverage on Energen Corp. in a research note on Monday, August 29th. They issued a buy rating and a $68.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Energen Corp. presently has an average rating of Buy and an average price target of $57.43.
Shares of Energen Corp. (NYSE:EGN) traded up 0.68% during trading on Tuesday, hitting $56.63. 62,324 shares of the stock traded hands. Energen Corp. has a 52 week low of $20.76 and a 52 week high of $61.98. The firm’s market cap is $5.50 billion. The company has a 50-day moving average of $56.28 and a 200-day moving average of $48.73.
Energen Corp. (NYSE:EGN) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.09. The company had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The firm’s quarterly revenue was down 37.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. On average, analysts forecast 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 the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 103,789 shares in the company, valued at approximately $5,457,225.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.02% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGN. Prudential Financial Inc. boosted its position in Energen Corp. by 31.4% in the first quarter. Prudential Financial Inc. now owns 63,199 shares of the company’s stock worth $2,312,000 after buying an additional 15,110 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Energen Corp. by 32.8% in the first quarter. Franklin Resources Inc. now owns 931,207 shares of the company’s stock worth $34,073,000 after buying an additional 230,207 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of 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 last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 last quarter. Finally, M&T Bank Corp boosted its position in shares of Energen Corp. by 52.6% in the first quarter. M&T Bank Corp now owns 9,252 shares of the company’s stock worth $337,000 after buying an additional 3,188 shares during the last quarter. Institutional investors own 93.34% of the company’s stock.
Energen Corp. Company Profile
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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