Energen Corporation (EGN) Receives New Coverage from Analysts at Wolfe Research
Wolfe Research assumed coverage on shares of Energen Corporation (NYSE:EGN) in a report issued on Thursday, The Fly reports. The firm set a “market perform” rating on the oil and gas producer’s stock.
Several other equities research analysts have also commented on the stock. Scotiabank reaffirmed a “buy” rating and issued a $64.00 price target on shares of Energen Corporation in a report on Monday, March 27th. Williams Capital reaffirmed a “buy” rating and issued a $72.00 price target on shares of Energen Corporation in a report on Friday, May 5th. TheStreet raised shares of Energen Corporation from a “d+” rating to a “c-” rating in a report on Thursday, May 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price target on shares of Energen Corporation in a report on Thursday, April 13th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $62.00 price target (up from $61.00) on shares of Energen Corporation in a report on Saturday, April 22nd. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $68.83.
Energen Corporation (NYSE:EGN) traded down 1.20% during mid-day trading on Thursday, hitting $53.62. The company had a trading volume of 340,088 shares. The firm has a market capitalization of $5.21 billion, a PE ratio of 75.95 and a beta of 1.88. The company has a 50 day moving average of $54.60 and a 200 day moving average of $55.05. Energen Corporation has a 1-year low of $43.29 and a 1-year high of $64.43.
Energen Corporation (NYSE:EGN) last announced its quarterly earnings data on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $240.90 million for the quarter, compared to analysts’ expectations of $166.69 million. Energen Corporation had a net margin of 10.69% and a negative return on equity of 2.79%. Energen Corporation’s quarterly revenue was up 87.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.64) earnings per share. Analysts predict that Energen Corporation will post $0.61 earnings per share for the current fiscal year.
In related news, insider John S. Richardson sold 6,500 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were 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 accessible through the SEC website. Also, VP Charles W. Porter sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $54.60, for a total transaction of $327,600.00. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGN. Flinton Capital Management LLC bought a new position in Energen Corporation during the fourth quarter valued at $153,000. Cigna Investments Inc. New bought a new position in Energen Corporation during the fourth quarter valued at $208,000. Greenwood Capital Associates LLC bought a new position in Energen Corporation during the first quarter valued at $200,000. Investment Counselors of Maryland LLC increased its position in Energen Corporation by 22.6% in the first quarter. Investment Counselors of Maryland LLC now owns 3,711 shares of the oil and gas producer’s stock valued at $202,000 after buying an additional 685 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Energen Corporation by 26.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,819 shares of the oil and gas producer’s stock valued at $208,000 after buying an additional 806 shares during the period. Hedge funds and other institutional investors own 94.43% of the company’s stock.
Energen Corporation Company Profile
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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