Williams Capital Reiterates “$76.00” Price Target for Energen Corporation (EGN)
Energen Corporation (NYSE:EGN) received a $76.00 price target from Williams Capital in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the oil and gas producer’s stock. Williams Capital’s price objective would indicate a potential upside of 53.97% from the company’s previous close.
Several other brokerages have also recently issued reports on EGN. Credit Suisse Group reiterated an “outperform” rating and set a $73.00 price target on shares of Energen Corporation in a research report on Friday, June 2nd. Barclays PLC reiterated a “hold” rating and set a $63.00 price target on shares of Energen Corporation in a research report on Wednesday, May 24th. Royal Bank Of Canada set a $65.00 price target on Energen Corporation and gave the company a “hold” rating in a research report on Friday, June 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $81.00 price target on shares of Energen Corporation in a research report on Friday, May 26th. Finally, Wolfe Research began coverage on Energen Corporation in a research report on Thursday, June 15th. They set a “market perform” rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $66.68.
Energen Corporation (NYSE EGN) traded up 0.61% during mid-day trading on Tuesday, reaching $49.66. The company’s stock had a trading volume of 173,145 shares. The company has a market capitalization of $4.83 billion, a PE ratio of 70.34 and a beta of 1.93. The firm has a 50 day moving average price of $50.31 and a 200-day moving average price of $52.96. Energen Corporation has a 1-year low of $46.10 and a 1-year high of $64.43. Energen Corporation also was the recipient of some unusual options trading on Monday. Investors acquired 13,292 call options on the stock. This is an increase of approximately 1,113% compared to the typical daily volume of 1,096 call options.
Energen Corporation (NYSE:EGN) last announced its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $256.82 million for the quarter, compared to the consensus estimate of $222.60 million. Energen Corporation had a negative return on equity of 2.79% and a net margin of 10.69%. The firm’s revenue for the quarter was up 142.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.28) EPS. On average, equities analysts predict that Energen Corporation will post $0.45 EPS for the current fiscal year.
In other Energen Corporation news, Director Alan A. Kleier bought 1,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was acquired at an average price of $47.59 per share, with a total value of $47,590.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $71,385. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.
Several hedge funds have recently modified their holdings of 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 valued at $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 valued at $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 valued at approximately $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 valued at $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 valued at $208,000 after buying an additional 806 shares during the period. 95.64% of the stock is owned by institutional investors and hedge funds.
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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