Energen Trading Down 3.8% After Insider Selling (EGN)
Energen (NYSE:EGN)’s share price traded down 3.8% during mid-day trading on Thursday following insider selling activity, Analyst Ratings Network.com reports. The stock traded as low as $74.89 and last traded at $74.90, with a volume of 759,682 shares. The stock had previously closed at $77.88.
Specifically, Director Judy M. Merritt unloaded 2,955 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $77.98, for a total transaction of $230,430.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
EGN has been the subject of a number of recent research reports. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Energen in a research note on Monday, August 4th. They now have a $110.00 price target on the stock, down previously from $128.00. Separately, analysts at SunTrust raised their price target on shares of Energen from $98.00 to $113.00 in a research note on Friday, July 11th. Finally, analysts at Howard Weil raised their price target on shares of Energen from $100.00 to $104.00 in a research note on Thursday, July 10th. They now have a “sector outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Energen presently has a consensus rating of “Buy” and a consensus price target of $101.73.
The stock has a 50-day moving average of $80.98 and a 200-day moving average of $82.6. The company has a market cap of $5.504 billion and a P/E ratio of 51.51.
Energen (NYSE:EGN) last announced its earnings results on Wednesday, July 30th. The company reported $0.48 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.52 by $0.04. The company had revenue of $355.85 million for the quarter, compared to the consensus estimate of $351.22 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. On average, analysts predict that Energen will post $2.74 earnings per share for the current fiscal year.
Energen Corporation is an oil- and natural gas liquids-focused exploration and production company. The Company has operations in the Permian and San Juan basins.
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