Energen Corporation (EGN) Given Average Recommendation of “Buy” by Brokerages
Shares of Energen Corporation (NYSE:EGN) have been given an average recommendation of “Buy” by the twenty-eight analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $66.57.
Several equities analysts have recently issued reports on EGN shares. Royal Bank Of Canada set a $66.00 target price on shares of Energen Corporation and gave the company a “hold” rating in a report on Thursday, April 20th. Scotiabank restated a “buy” rating and issued a $64.00 price objective on shares of Energen Corporation in a report on Friday, May 5th. Citigroup Inc. decreased their target price on shares of Energen Corporation from $58.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays PLC set a $57.00 target price on shares of Energen Corporation and gave the company a “hold” rating in a research note on Tuesday. Finally, BMO Capital Markets reiterated a “hold” rating and set a $70.00 target price on shares of Energen Corporation in a research note on Monday, May 15th.
Shares of Energen Corporation (NYSE EGN) traded down 1.30% on Tuesday, hitting $48.50. The stock had a trading volume of 1,314,005 shares. The firm has a 50 day moving average of $50.00 and a 200-day moving average of $52.57. Energen Corporation has a 1-year low of $46.16 and a 1-year high of $64.43. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 76.74 and a beta of 1.93.
Energen Corporation (NYSE:EGN) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $256.82 million for the quarter, compared to analysts’ expectations of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The business’s revenue was up 142.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.28) EPS. Equities analysts predict that Energen Corporation will post $0.44 earnings per share for the current year.
In other news, Director Alan A. Kleier purchased 1,000 shares of the stock in a transaction on Friday, June 23rd. The stock was bought at an average price of $47.59 per share, for a total transaction of $47,590.00. Following the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $71,385. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Treasurer State of Michigan boosted its position in shares of Energen Corporation by 0.8% in the first quarter. State Treasurer State of Michigan now owns 39,400 shares of the oil and gas producer’s stock valued at $2,145,000 after buying an additional 300 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Energen Corporation by 4.1% in the first quarter. Great West Life Assurance Co. Can now owns 57,592 shares of the oil and gas producer’s stock valued at $3,133,000 after buying an additional 2,256 shares during the period. Tocqueville Asset Management L.P. increased its stake in Energen Corporation by 157.9% in the first quarter. Tocqueville Asset Management L.P. now owns 147,000 shares of the oil and gas producer’s stock valued at $8,003,000 after buying an additional 90,000 shares during the period. Canada Pension Plan Investment Board increased its stake in Energen Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 266,800 shares of the oil and gas producer’s stock valued at $14,525,000 after buying an additional 154,700 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Energen Corporation by 0.7% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 37,060 shares of the oil and gas producer’s stock valued at $2,018,000 after buying an additional 250 shares during the period. Institutional investors own 97.71% 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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