Energen Corporation (EGN) Stock Rating Lowered by ValuEngine
Energen Corporation (NYSE:EGN) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.
Several other equities analysts have also recently issued reports on EGN. Barclays PLC reissued a “hold” rating and issued a $57.00 price objective (down previously from $63.00) on shares of Energen Corporation in a report on Thursday, April 20th. Royal Bank Of Canada set a $66.00 price objective on Energen Corporation and gave the company a “hold” rating in a report on Thursday, April 20th. Citigroup Inc. reissued a “neutral” rating and issued a $62.00 price objective (up previously from $61.00) on shares of Energen Corporation in a report on Saturday, April 22nd. BMO Capital Markets reissued a “hold” rating and issued a $70.00 price objective on shares of Energen Corporation in a report on Friday, May 5th. Finally, Williams Capital reissued a “buy” rating and issued a $72.00 price objective on shares of Energen Corporation in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. Energen Corporation presently has a consensus rating of “Buy” and a consensus price target of $66.23.
Shares of Energen Corporation (EGN) traded up 2.29% during mid-day trading on Thursday, reaching $49.18. The company’s stock had a trading volume of 4,938,239 shares. The firm has a market cap of $4.78 billion, a P/E ratio of 77.82 and a beta of 1.93. Energen Corporation has a 12-month low of $46.16 and a 12-month high of $64.43. The firm’s 50-day moving average price is $50.02 and its 200 day moving average price is $52.52.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $256.82 million during 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 company’s revenue for the quarter was up 142.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.28) EPS. On average, analysts expect that Energen Corporation will post $0.42 EPS for the current year.
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In other news, Director Alan A. Kleier acquired 1,000 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was bought at an average cost of $47.59 per share, for a total transaction of $47,590.00. Following the purchase, the director now owns 1,500 shares in the company, valued at $71,385. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of EGN. Flinton Capital Management LLC raised its stake in 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 raised its stake in 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 purchased a new stake in Energen Corporation during the first quarter valued at approximately $200,000. Investment Counselors of Maryland LLC raised its stake 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 raised its stake 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. Institutional investors own 97.71% of the company’s stock.
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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