Energen Co. (EGN) Receives Average Rating of “Buy” from Analysts
Shares of Energen Co. (NYSE:EGN) have received an average rating of “Buy” from the twenty-nine analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $65.91.
A number of analysts recently commented on the stock. Barclays PLC set a $57.00 target price on shares of Energen and gave the stock a “hold” rating in a research note on Tuesday, August 15th. ValuEngine upgraded shares of Energen from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Mizuho reiterated a “buy” rating and issued a $69.00 target price on shares of Energen in a research note on Friday, September 29th. Williams Capital set a $76.00 target price on shares of Energen and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Finally, Citigroup Inc. lowered their target price on shares of Energen from $58.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, August 15th.
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Several institutional investors and hedge funds have recently bought and sold shares of EGN. Karp Capital Management Corp acquired a new position in shares of Energen in the 1st quarter valued at $627,000. Schroder Investment Management Group increased its holdings in Energen by 16.4% in the 1st quarter. Schroder Investment Management Group now owns 202,166 shares of the oil and gas producer’s stock worth $10,883,000 after acquiring an additional 28,537 shares in the last quarter. Credit Agricole S A increased its holdings in Energen by 23.4% in the 1st quarter. Credit Agricole S A now owns 18,592 shares of the oil and gas producer’s stock worth $1,012,000 after acquiring an additional 3,527 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Energen by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 397,564 shares of the oil and gas producer’s stock worth $21,644,000 after acquiring an additional 14,577 shares in the last quarter. Finally, Advantus Capital Management Inc increased its holdings in Energen by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 12,428 shares of the oil and gas producer’s stock worth $677,000 after acquiring an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.
Shares of Energen (NYSE EGN) traded down 1.87% on Wednesday, reaching $53.58. 866,770 shares of the company were exchanged. The firm’s 50 day moving average price is $51.91 and its 200 day moving average price is $52.22. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 84.78 and a beta of 1.95. Energen has a 52 week low of $46.16 and a 52 week high of $64.44.
Energen (NYSE:EGN) last released its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $222.60 million. Energen had a net margin of 11.48% and a return on equity of 3.73%. Energen’s revenue for the quarter was up 142.8% on a year-over-year basis. During the same period last year, the business earned ($0.28) EPS. Equities research analysts anticipate that Energen will post $0.40 EPS for the current year.
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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