Stifel Nicolaus Increases Energen Corp. (EGN) Price Target to $67.00
Energen Corp. (NYSE:EGN) had its price target hoisted by research analysts at Stifel Nicolaus to $67.00 in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 17.92% from the company’s previous close.
EGN has been the subject of several other research reports. Canaccord Genuity started coverage on Energen Corp. in a research note on Monday, September 19th. They set a “buy” rating and a $66.00 price target for the company. Mizuho started coverage on shares of Energen Corp. in a research note on Wednesday, October 5th. They issued a “buy” rating and a $70.00 target price for the company. TheStreet raised shares of Energen Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Zacks Investment Research raised shares of Energen Corp. from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, July 6th. Finally, Wunderlich boosted their target price on shares of Energen Corp. from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.43.
Shares of Energen Corp. (NYSE:EGN) traded up 0.07% during mid-day trading on Tuesday, hitting $56.86. 176,198 shares of the stock traded hands. The company’s market cap is $5.52 billion. Energen Corp. has a one year low of $20.76 and a one year high of $61.98. The stock has a 50 day moving average price of $56.28 and a 200-day moving average price of $48.67.
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Energen Corp. (NYSE:EGN) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.09. The business earned $105.80 million during the quarter, compared to the consensus estimate of $144.31 million. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The business’s revenue was down 37.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. On average, analysts forecast 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 the company’s 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 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of EGN. Prudential Financial Inc. increased its position in shares of Energen Corp. by 31.4% in the first quarter. Prudential Financial Inc. now owns 63,199 shares of the company’s stock worth $2,312,000 after buying an additional 15,110 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Energen Corp. by 32.8% in the first quarter. Franklin Resources Inc. now owns 931,207 shares of the company’s stock worth $34,073,000 after buying an additional 230,207 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Energen Corp. by 21.3% in the first quarter. BlackRock Fund Advisors now owns 3,362,166 shares of the company’s stock worth $123,022,000 after buying an additional 589,613 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Energen Corp. by 18.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,772,451 shares of the company’s stock worth $101,444,000 after buying an additional 423,441 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Energen Corp. by 52.6% in the first quarter. M&T Bank Corp now owns 9,252 shares of the company’s stock worth $337,000 after buying an additional 3,188 shares during the last quarter. Hedge funds and other institutional investors own 93.34% of the company’s stock.
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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