Energen Corp. (EGN) PT Raised to $65.00
Energen Corp. (NYSE:EGN) had its price objective raised by Nomura from $54.00 to $65.00 in a research note issued on Thursday. The brokerage presently has a “buy” rating on the stock. Nomura’s target price indicates a potential upside of 11.61% from the stock’s current price.
EGN has been the subject of several other research reports. Stifel Nicolaus upped their price target on Energen Corp. from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. RBC Capital Markets reissued a “sector perform” rating and issued a $54.00 target price (up from $50.00) on shares of Energen Corp. in a report on Thursday, August 11th. Royal Bank Of Canada increased their target price on Energen Corp. from $50.00 to $54.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 10th. Barclays PLC began coverage on Energen Corp. in a report on Tuesday, June 21st. They issued an “equal weight” rating and a $50.00 target price for the company. Finally, Citigroup Inc. increased their target price on Energen Corp. from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Energen Corp. presently has an average rating of “Buy” and a consensus target price of $57.18.
Shares of Energen Corp. (NYSE:EGN) remained flat at $58.24 on Thursday. The company’s stock had a trading volume of 773,388 shares. The stock’s market cap is $5.65 billion. The firm’s 50 day moving average is $56.26 and its 200-day moving average is $48.16. Energen Corp. has a 12-month low of $20.76 and a 12-month high of $61.98.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/energen-corp-egn-pt-raised-to-65-00.html
Energen Corp. (NYSE:EGN) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.09. The firm earned $105.80 million during 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 company’s revenue for the quarter was down 37.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. Equities analysts predict that Energen Corp. will post ($1.37) earnings per share for the current fiscal year.
In related news, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. 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 sale, the chairman now owns 103,789 shares of the company’s stock, valued at $5,457,225.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.02% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Energen Corp. by 26.1% in the first quarter. Geode Capital Management LLC now owns 598,154 shares of the company’s stock worth $21,886,000 after buying an additional 123,898 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Energen Corp. by 340.0% in the first quarter. Goldman Sachs Group Inc. now owns 659,076 shares of the company’s stock worth $24,116,000 after buying an additional 509,271 shares in the last quarter. Riverhead Capital Management LLC increased its stake in Energen Corp. by 3.0% in the first quarter. Riverhead Capital Management LLC now owns 18,032 shares of the company’s stock worth $660,000 after buying an additional 532 shares in the last quarter. Weiss Asset Management LP bought a new stake in Energen Corp. during the first quarter worth about $1,098,000. Finally, AXA bought a new stake in Energen Corp. during the first quarter worth about $4,178,000. 93.37% of the stock is currently 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.
Receive News & Ratings for Energen Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energen Corp. and related companies with MarketBeat.com's FREE daily email newsletter.