Citigroup Inc. Boosts Energen Corporation (EGN) Price Target to $58.00
Energen Corporation (NYSE:EGN) had its target price lifted by research analysts at Citigroup Inc. from $55.00 to $58.00 in a report issued on Friday. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Citigroup Inc.’s price objective points to a potential upside of 15.10% from the company’s current price.
A number of other research firms have also weighed in on EGN. Credit Suisse Group reaffirmed an “outperform” rating and set a $73.00 target price on shares of Energen Corporation in a report on Friday, June 2nd. Barclays PLC reaffirmed a “hold” rating and set a $63.00 target price on shares of Energen Corporation in a report on Wednesday, May 24th. Royal Bank Of Canada set a $65.00 target price on shares of Energen Corporation and gave the stock a “hold” rating in a report on Friday, June 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $81.00 target price on shares of Energen Corporation in a report on Friday, May 26th. Finally, Zacks Investment Research lowered shares of Energen Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $66.68.
Energen Corporation (EGN) traded down 0.65% during mid-day trading on Friday, hitting $50.39. 799,664 shares of the company traded hands. The firm has a market capitalization of $4.90 billion, a P/E ratio of 71.37 and a beta of 1.93. The firm has a 50 day moving average of $51.01 and a 200 day moving average of $53.27. Energen Corporation has a one year low of $43.70 and a one year high of $64.43.
Energen Corporation (NYSE:EGN) last posted its earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.01. The firm had revenue of $240.90 million for the quarter, compared to the consensus estimate of $166.69 million. Energen Corporation had a negative return on equity of 2.79% and a net margin of 10.69%. The business’s revenue was up 87.9% on a year-over-year basis. During the same period last year, the company posted ($0.64) EPS. Equities research analysts expect that Energen Corporation will post $0.49 earnings per share for the current fiscal year.
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In other Energen Corporation news, Director Alan A. Kleier acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was bought at an average price of $47.59 per share, with a total value of $47,590.00. Following the purchase, the director now owns 1,500 shares of the company’s stock, valued at $71,385. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in EGN. Flinton Capital Management LLC boosted its stake in shares of Energen Corporation by 10.8% in the first quarter. Flinton Capital Management LLC now owns 2,944 shares of the oil and gas producer’s stock worth $160,000 after buying an additional 288 shares during the period. Creative Planning boosted its stake in shares of Energen Corporation by 8.0% in the second quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock worth $167,000 after buying an additional 250 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of Energen Corporation during the first quarter worth about $200,000. Investment Counselors of Maryland LLC boosted its stake in shares of 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 worth $202,000 after buying an additional 685 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 worth $208,000 after buying an additional 806 shares during the period. 95.08% of the stock is owned by institutional investors.
About Energen Corporation
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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