Energen Corp. (EGN) Price Target Raised to $65.00 at Nomura
Energen Corp. (NYSE:EGN) had its target price increased by stock analysts at Nomura to $65.00 in a report released on Thursday. The firm currently has a “buy” rating on the stock. Nomura’s target price points to a potential upside of 11.61% from the company’s current price.
A number of other brokerages have also issued reports on EGN. Stifel Nicolaus started coverage on shares of Energen Corp. in a research report on Thursday, June 16th. They set a “buy” rating and a $55.00 target price on the stock. Barclays PLC started coverage on shares of Energen Corp. in a research report on Tuesday, June 21st. They set an “equal weight” rating and a $50.00 target price on the stock. Wunderlich boosted their target price on shares of Energen Corp. from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, June 21st. Royal Bank Of Canada boosted their target price on shares of Energen Corp. from $43.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 21st. Finally, Credit Suisse Group AG boosted their target price on shares of Energen Corp. from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 21st. Twelve analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $57.18.
Shares of Energen Corp. (NYSE:EGN) opened at 58.24 on Thursday. The company’s market capitalization is $5.65 billion. Energen Corp. has a 12 month low of $20.76 and a 12 month high of $61.98. The company has a 50-day moving average of $56.20 and a 200 day moving average of $48.09.
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Energen Corp. (NYSE:EGN) last released its quarterly 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. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. The company had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. During the same quarter last year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was down 37.1% compared to the same quarter last year. Analysts forecast that Energen Corp. will post ($1.37) EPS for the current year.
In other news, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.02% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its stake in shares of Energen Corp. by 1.5% in the third quarter. Creative Planning now owns 3,366 shares of the company’s stock worth $194,000 after buying an additional 51 shares during the period. Public Employees Retirement Association of Colorado boosted 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 last quarter. Simmons Bank boosted 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 last quarter. Baldwin Investment Management LLC boosted 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 last quarter. Finally, Stifel Financial Corp boosted 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 last quarter. 93.37% of the stock is owned by institutional investors.
About Energen Corp.
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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