Energen Corp. (NYSE:EGN) was upgraded by investment analysts at Tudor Pickering from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
Several other research firms have also issued reports on EGN. TheStreet upgraded shares of Energen Corp. from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. Stifel Nicolaus reiterated a “buy” rating on shares of Energen Corp. in a report on Wednesday, August 31st. Williams Capital began coverage on shares of Energen Corp. in a report on Monday, August 29th. They set a “buy” rating and a $68.00 target price for the company. KeyCorp increased their target price on shares of Energen Corp. from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, August 22nd. Finally, Barclays PLC increased their target price on shares of Energen Corp. from $52.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 16th. Twelve research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Energen Corp. presently has a consensus rating of “Buy” and an average price target of $55.23.
Energen Corp. (NYSE:EGN) opened at 52.31 on Friday. The company’s market capitalization is $5.08 billion. Energen Corp. has a 52-week low of $20.76 and a 52-week high of $61.98. The stock has a 50 day moving average price of $53.78 and a 200 day moving average price of $44.84.
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Energen Corp. (NYSE:EGN) last released its earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.09. The business had revenue of $105.80 million for the quarter, compared to analysts’ expectations 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 revenue was down 37.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Equities research analysts forecast that Energen Corp. will post ($1.37) earnings per share for the current year.
In other Energen Corp. news, CEO J T. Mcmanus sold 15,000 shares of Energen Corp. stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $48.05, for a total value of $720,750.00. Following the completion of the sale, the chief executive officer now owns 103,789 shares of the company’s stock, valued at approximately $4,987,061.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total transaction of $537,157.28. Following the completion of the sale, the chairman now directly owns 103,789 shares of the company’s stock, valued at approximately $5,457,225.62. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of EGN. Public Employees Retirement Association of Colorado increased its stake in Energen Corp. by 0.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 19,709 shares of the company’s stock worth $950,000 after buying an additional 74 shares during the period. Simmons Bank increased its stake in Energen Corp. by 1.2% in the second quarter. Simmons Bank now owns 6,580 shares of the company’s stock worth $317,000 after buying an additional 80 shares during the period. Baldwin Investment Management LLC increased its stake in Energen Corp. by 1.7% in the second quarter. Baldwin Investment Management LLC now owns 6,248 shares of the company’s stock worth $301,000 after buying an additional 103 shares during the period. Stifel Financial Corp increased its stake in Energen Corp. by 1.8% in the second quarter. Stifel Financial Corp now owns 7,877 shares of the company’s stock worth $380,000 after buying an additional 142 shares during the period. Finally, IBM Retirement Fund increased its stake in Energen Corp. by 3.0% in the second quarter. IBM Retirement Fund now owns 9,795 shares of the company’s stock worth $472,000 after buying an additional 281 shares during the period. 93.40% of the stock is owned by institutional investors and hedge funds.
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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