Energen’s (EGN) “Hold” Rating Reaffirmed at Barclays PLC
Energen Co. (NYSE:EGN)‘s stock had its “hold” rating reiterated by equities researchers at Barclays PLC in a report released on Wednesday. They presently have a $63.00 target price on the oil and gas producer’s stock. Barclays PLC’s target price suggests a potential upside of 10.72% from the company’s previous close.
Several other research firms also recently commented on EGN. BMO Capital Markets reiterated a “hold” rating and issued a $70.00 price objective on shares of Energen in a report on Friday, May 5th. Scotiabank reiterated a “buy” rating and issued a $64.00 price objective on shares of Energen in a report on Monday, March 27th. Williams Capital reiterated a “buy” rating and issued a $72.00 price objective on shares of Energen in a report on Friday, May 5th. Royal Bank of Canada reiterated a “hold” rating and issued a $66.00 price objective on shares of Energen in a report on Friday, March 17th. Finally, Zacks Investment Research upgraded Energen from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Tuesday, February 14th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Energen presently has an average rating of “Buy” and an average price target of $68.94.
Energen (NYSE:EGN) traded down 1.68% during mid-day trading on Wednesday, hitting $56.90. 1,045,341 shares of the stock traded hands. Energen has a 52-week low of $43.29 and a 52-week high of $64.43. The firm has a market cap of $5.53 billion, a P/E ratio of 80.59 and a beta of 1.91. The firm’s 50-day moving average is $53.72 and its 200 day moving average is $55.12.
Energen (NYSE:EGN) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by $0.01. Energen had a negative net margin of 31.43% and a negative return on equity of 4.19%. The company had revenue of $240.90 million for the quarter, compared to the consensus estimate of $166.69 million. During the same quarter in the previous year, the business earned ($0.64) earnings per share. Energen’s revenue was up 87.9% compared to the same quarter last year. Equities analysts predict that Energen will post $0.61 EPS for the current fiscal year.
In other Energen news, insider John S. Richardson sold 6,500 shares of the business’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $52.20, for a total transaction of $339,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Charles W. Porter sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $54.60, for a total value of $327,600.00. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Several large investors have recently added to or reduced their stakes in EGN. BlackRock Inc. increased its stake in Energen by 5,491.7% in the first quarter. BlackRock Inc. now owns 9,266,613 shares of the oil and gas producer’s stock worth $504,475,000 after buying an additional 9,100,891 shares in the last quarter. Credit Suisse AG increased its stake in Energen by 2,708.2% in the first quarter. Credit Suisse AG now owns 2,993,073 shares of the oil and gas producer’s stock worth $162,943,000 after buying an additional 2,886,489 shares in the last quarter. Elliott Management Corp purchased a new stake in Energen during the first quarter worth about $46,274,000. Norges Bank purchased a new stake in Energen during the fourth quarter worth about $41,885,000. Finally, Victory Capital Management Inc. increased its stake in Energen by 33.3% in the third quarter. Victory Capital Management Inc. now owns 2,308,249 shares of the oil and gas producer’s stock worth $133,233,000 after buying an additional 576,299 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.
Energen Corporation 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. Its operations are conducted through subsidiary, Energen Resources Corporation and occur within the Midland Basin, the Delaware Basin and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico.
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