Energen Co. (EGN) Given Consensus Recommendation of “Buy” by Brokerages
Energen Co. (NYSE:EGN) has been assigned a consensus recommendation of “Buy” from the twenty-nine brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $65.77.
Several research analysts recently weighed in on the stock. Credit Suisse Group reissued an “outperform” rating and set a $73.00 price objective on shares of Energen in a research note on Friday, June 2nd. Barclays PLC reissued a “hold” rating and set a $63.00 price objective on shares of Energen in a research note on Wednesday, May 24th. Royal Bank Of Canada set a $65.00 price objective on shares of Energen and gave the stock a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus reissued a “buy” rating and set a $81.00 price objective on shares of Energen in a research note on Friday, May 26th. Finally, Wolfe Research assumed coverage on shares of Energen in a research note on Thursday, June 15th. They set a “market perform” rating and a $60.00 price objective on the stock.
Energen (NYSE:EGN) traded down 2.27% during mid-day trading on Friday, reaching $49.94. 1,114,448 shares of the company traded hands. The firm has a market cap of $4.85 billion, a PE ratio of 79.02 and a beta of 1.94. Energen has a one year low of $46.16 and a one year high of $64.44. The stock’s 50-day moving average price is $50.64 and its 200-day moving average price is $52.09.
Energen (NYSE:EGN) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Energen had a net margin of 11.48% and a return on equity of 3.73%. The business had revenue of $256.82 million for the quarter, compared to analyst estimates of $222.60 million. During the same quarter last year, the firm earned ($0.28) EPS. Energen’s quarterly revenue was up 142.8% compared to the same quarter last year. Analysts forecast that Energen will post $0.40 earnings per share for the current fiscal year.
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In other news, Director Alan A. Kleier bought 1,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average cost of $47.59 per share, for a total transaction of $47,590.00. Following the completion of the acquisition, the director now owns 1,500 shares in the company, valued at $71,385. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas increased its holdings in shares of Energen by 1.4% in the first quarter. Teacher Retirement System of Texas now owns 7,761 shares of the oil and gas producer’s stock valued at $423,000 after purchasing an additional 110 shares during the last quarter. World Asset Management Inc increased its holdings in shares of Energen by 1.8% in the first quarter. World Asset Management Inc now owns 6,588 shares of the oil and gas producer’s stock valued at $359,000 after purchasing an additional 114 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Energen by 2.3% in the second quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock valued at $264,000 after purchasing an additional 119 shares during the last quarter. Utah Retirement Systems increased its holdings in shares of Energen by 1.1% in the second quarter. Utah Retirement Systems now owns 17,822 shares of the oil and gas producer’s stock valued at $880,000 after purchasing an additional 200 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Energen 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 purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.
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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