Energen (EGN) Coverage Initiated by Analysts at UBS Group
UBS Group started coverage on shares of Energen (NYSE:EGN) in a report published on Wednesday, www.benzinga.com reports. The firm issued a neutral rating and a $62.00 target price on the oil and gas producer’s stock.
A number of other brokerages also recently commented on EGN. Mizuho set a $72.00 price objective on shares of Energen and gave the stock a buy rating in a research report on Tuesday, January 16th. Morgan Stanley upgraded shares of Energen from an equal weight rating to an overweight rating and set a $75.00 price objective for the company in a research report on Wednesday, January 24th. Royal Bank of Canada restated a sector perform rating and set a $59.00 price objective (up previously from $56.00) on shares of Energen in a research report on Thursday, November 9th. Deutsche Bank started coverage on shares of Energen in a research report on Thursday, February 1st. They set a buy rating and a $70.00 price objective for the company. Finally, Barclays upgraded shares of Energen from an equal weight rating to an overweight rating and set a $70.00 price objective for the company in a research report on Monday, November 20th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $66.48.
Shares of Energen (NYSE EGN) opened at $57.81 on Wednesday. Energen has a 12-month low of $46.16 and a 12-month high of $60.07. The company has a market cap of $5,630.98, a price-to-earnings ratio of 18.47 and a beta of 1.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.55.
In related news, major shareholder Corvex Management Lp sold 80,294 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $57.56, for a total value of $4,621,722.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lori A. Lancaster acquired 1,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was acquired at an average cost of $57.79 per share, for a total transaction of $57,790.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at approximately $57,790. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. SeaCrest Wealth Management LLC acquired a new stake in Energen in the 4th quarter valued at about $109,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Energen in the 4th quarter valued at about $115,000. Cerebellum GP LLC acquired a new stake in Energen in the 4th quarter valued at about $125,000. Calton & Associates Inc. acquired a new stake in Energen in the 4th quarter valued at about $185,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in Energen in the 4th quarter valued at about $201,000. 93.19% of the stock is currently owned by hedge funds and other institutional investors.
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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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