Energen Corporation (NYSE:EGN) had its price target raised by Morgan Stanley from $52.00 to $56.00 in a report issued on Thursday morning. The firm currently has an equal weight rating on the oil and gas producer’s stock.

EGN has been the subject of several other reports. TheStreet raised Energen Corporation from a d+ rating to a c- rating in a research report on Thursday, May 4th. BMO Capital Markets reissued a hold rating and issued a $70.00 price objective on shares of Energen Corporation in a research report on Thursday, June 22nd. ValuEngine raised Energen Corporation from a sell rating to a hold rating in a research report on Monday, July 24th. Seaport Global Securities raised Energen Corporation from a sell rating to a neutral rating and lifted their price objective for the stock from $38.00 to $46.00 in a research report on Friday, August 11th. Finally, Zacks Investment Research raised Energen Corporation from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. Energen Corporation has a consensus rating of Buy and a consensus target price of $65.57.

Shares of Energen Corporation (NYSE EGN) traded up 1.09% during midday trading on Thursday, hitting $51.84. The company’s stock had a trading volume of 446,674 shares. The company has a market cap of $5.04 billion, a P/E ratio of 82.03 and a beta of 1.93. The company has a 50-day moving average price of $50.45 and a 200 day moving average price of $52.27. Energen Corporation has a 1-year low of $46.16 and a 1-year high of $64.43.

Energen Corporation (NYSE:EGN) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The firm had revenue of $256.82 million during the quarter, compared to analyst estimates of $222.60 million. During the same period last year, the company posted ($0.28) EPS. The business’s quarterly revenue was up 142.8% on a year-over-year basis. On average, equities research analysts predict that Energen Corporation will post $0.41 EPS for the current year.

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In other Energen Corporation news, Director Alan A. Kleier bought 1,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were purchased at an average price of $47.59 per share, for a total transaction of $47,590.00. Following the purchase, the director now directly owns 1,500 shares of the company’s stock, valued at $71,385. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Capstone Asset Management Co. increased its position in shares of Energen Corporation by 7.2% in the first quarter. Capstone Asset Management Co. now owns 8,582 shares of the oil and gas producer’s stock worth $467,000 after buying an additional 580 shares during the last quarter. Glen Harbor Capital Management LLC increased its position in shares of Energen Corporation by 10.8% in the first quarter. Glen Harbor Capital Management LLC now owns 5,152 shares of the oil and gas producer’s stock worth $280,000 after buying an additional 504 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Energen Corporation by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 34,275 shares of the oil and gas producer’s stock worth $1,866,000 after buying an additional 500 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Energen Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 266,800 shares of the oil and gas producer’s stock worth $14,525,000 after buying an additional 154,700 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Energen Corporation by 4.1% in the first quarter. Great West Life Assurance Co. Can now owns 57,592 shares of the oil and gas producer’s stock worth $3,133,000 after buying an additional 2,256 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

About Energen Corporation

Energen Corporation 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. Its operations are conducted through subsidiary, Energen Resources Corporation and occur 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 Corporation (NYSE:EGN)

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