Energen Corp. (EGN) Price Target Raised to $67.00 at Stifel Nicolaus
Energen Corp. (NYSE:EGN) had its target price increased by Stifel Nicolaus to $67.00 in a report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 17.92% from the stock’s current price.
A number of other research analysts also recently commented on EGN. Barclays PLC started coverage on Energen Corp. in a research note on Tuesday, June 21st. They issued an “equal weight” rating and a $50.00 price target for the company. Wunderlich boosted their price target on Energen Corp. from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, June 21st. Royal Bank Of Canada boosted their price target on Energen Corp. from $43.00 to $48.00 and gave the company a “sector perform” rating in a research note on Tuesday, June 21st. Credit Suisse Group AG boosted their price target on Energen Corp. from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, June 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $60.00 price target on shares of Energen Corp. in a research note on Wednesday, June 22nd. Twelve research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.43.
Energen Corp. (NYSE:EGN) traded up 0.30% during trading on Tuesday, reaching $56.99. 259,485 shares of the company traded hands. The company’s market cap is $5.53 billion. Energen Corp. has a 12 month low of $20.76 and a 12 month high of $61.98. The company’s 50-day moving average is $56.28 and its 200 day moving average is $48.67.
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Energen Corp. (NYSE:EGN) last announced its earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.09. The company earned $105.80 million during the quarter, compared to analysts’ expectations of $144.31 million. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. Energen Corp.’s quarterly revenue was down 37.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, analysts anticipate that Energen Corp. will post ($1.37) earnings per share for the current year.
In related news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.02% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC bought a new stake in Energen Corp. during the second quarter worth approximately $103,000. Creative Planning raised its stake in Energen Corp. by 875.0% in the second quarter. Creative Planning now owns 3,315 shares of the company’s stock worth $160,000 after buying an additional 2,975 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV bought a new stake in Energen Corp. during the second quarter worth approximately $202,000. Fruth Investment Management bought a new stake in Energen Corp. during the second quarter worth approximately $212,000. Finally, Hsbc Holdings PLC bought a new stake in Energen Corp. during the second quarter worth approximately $217,000. 93.34% 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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