Stifel Nicolaus Reiterates “$80.00” Price Target for Energen Corporation (EGN)
Energen Corporation (NYSE:EGN) received a $80.00 target price from investment analysts at Stifel Nicolaus in a research note issued on Thursday. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 49.28% from the company’s current price.
EGN has been the topic of several other reports. Citigroup Inc. boosted their target price on Energen Corporation from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. BidaskClub downgraded Energen Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Morgan Stanley boosted their target price on Energen Corporation from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 31st. Zacks Investment Research upgraded Energen Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine downgraded Energen Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $65.96.
Energen Corporation (NYSE EGN) traded down 2.07% during midday trading on Thursday, hitting $52.48. The stock had a trading volume of 454,362 shares. The company’s 50 day moving average price is $52.07 and its 200-day moving average price is $52.23. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.44. The stock has a market cap of $5.10 billion, a PE ratio of 83.04 and a beta of 1.95.
Energen Corporation (NYSE:EGN) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The business had revenue of $256.82 million for the quarter, compared to the consensus estimate of $222.60 million. During the same period last year, the business posted ($0.28) EPS. The business’s revenue was up 142.8% compared to the same quarter last year. Analysts forecast that Energen Corporation will post $0.40 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners acquired a new position in Energen Corporation in the 4th quarter worth about $0. Creative Planning raised its holdings in Energen Corporation by 1.5% in the 3rd quarter. Creative Planning now owns 3,366 shares of the oil and gas producer’s stock worth $194,000 after purchasing an additional 51 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in Energen Corporation by 0.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 19,709 shares of the oil and gas producer’s stock worth $950,000 after purchasing an additional 74 shares during the period. Simmons Bank raised its holdings in Energen Corporation by 1.2% in the 2nd quarter. Simmons Bank now owns 6,580 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 80 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in Energen Corporation by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,197 shares of the oil and gas producer’s stock worth $1,279,000 after purchasing an additional 100 shares during the period. 94.01% of the stock is owned by institutional investors.
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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