SunTrust Banks, Inc. Reiterates “Buy” Rating for Energen Corporation (EGN)
Energen Corporation (NYSE:EGN)‘s stock had its “buy” rating reissued by SunTrust Banks, Inc. in a research report issued on Monday. They presently have a $70.00 price objective on the oil and gas producer’s stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 28.21% from the company’s current price. SunTrust Banks also issued estimates for Energen Corporation’s Q3 2017 earnings at $0.12 EPS, Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $0.33 EPS, FY2018 earnings at $1.73 EPS, FY2019 earnings at $2.94 EPS and FY2020 earnings at $3.53 EPS.
A number of other equities research analysts also recently issued reports on the stock. Citigroup Inc. boosted their price target on shares of Energen Corporation from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. BidaskClub cut shares of Energen Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Morgan Stanley increased their price objective on shares of Energen Corporation from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 31st. Zacks Investment Research upgraded shares of Energen Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, ValuEngine downgraded shares of Energen Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. Energen Corporation has a consensus rating of “Buy” and an average price target of $65.63.
Shares of Energen Corporation (EGN) opened at 54.60 on Monday. Energen Corporation has a one year low of $46.16 and a one year high of $64.44. The company has a 50 day moving average price of $51.77 and a 200-day moving average price of $52.21. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 86.39 and a beta of 1.95.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The firm had revenue of $256.82 million for the quarter, compared to analyst estimates of $222.60 million. During the same period in the previous year, the firm earned ($0.28) EPS. Energen Corporation’s revenue was up 142.8% on a year-over-year basis. Equities analysts predict that Energen Corporation will post $0.40 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of Energen Corporation by 8.0% in the 2nd quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock valued at $167,000 after acquiring an additional 250 shares during the last quarter. Laurion Capital Management LP purchased a new stake in Energen Corporation during the first quarter worth approximately $229,000. Oppenheimer Asset Management Inc. purchased a new stake in Energen Corporation during the first quarter worth approximately $231,000. Optimum Investment Advisors purchased a new stake in Energen Corporation during the second quarter worth approximately $228,000. Finally, Capital Insight Partners LLC purchased a new stake in Energen Corporation during the second quarter worth approximately $237,000. 94.01% of the stock is owned by institutional investors and hedge funds.
Energen Corporation Company Profile
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.
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