Energen Corporation (EGN) Given a $60.00 Price Target at BMO Capital Markets
Energen Corporation (NYSE:EGN) has been given a $60.00 price objective by equities researchers at BMO Capital Markets in a note issued to investors on Tuesday. The brokerage presently has a “hold” rating on the oil and gas producer’s stock. BMO Capital Markets’ price objective indicates a potential upside of 12.95% from the stock’s current price.
EGN has been the topic of several other research reports. Mizuho reiterated a “buy” rating and set a $69.00 price target on shares of Energen Corporation in a research note on Friday, September 29th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $70.00 price target on shares of Energen Corporation in a research note on Monday, October 2nd. Wolfe Research started coverage on shares of Energen Corporation in a research note on Thursday, June 15th. They set a “market perform” rating and a $60.00 price target on the stock. Zacks Investment Research cut shares of Energen Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Stifel Nicolaus set a $80.00 price target on shares of Energen Corporation and gave the stock a “buy” rating in a research note on Thursday, October 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $66.04.
Shares of Energen Corporation (NYSE EGN) opened at 53.12 on Tuesday. The stock has a market cap of $5.16 billion, a P/E ratio of 84.05 and a beta of 1.95. The firm’s 50 day moving average price is $52.33 and its 200 day moving average price is $52.26. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.44.
Energen Corporation (NYSE:EGN) last posted 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. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The business had revenue of $256.82 million during the quarter, compared to the consensus estimate of $222.60 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The firm’s revenue was up 142.8% on a year-over-year basis. On average, analysts expect that Energen Corporation will post $0.41 EPS for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Energen Corporation during the 2nd quarter valued at $584,000. Public Employees Retirement System of Ohio lifted its stake in shares of Energen Corporation by 11.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 48,901 shares of the oil and gas producer’s stock valued at $2,414,000 after buying an additional 4,900 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Energen Corporation by 1.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 44,447 shares of the oil and gas producer’s stock valued at $2,194,000 after buying an additional 433 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Energen Corporation during the 2nd quarter valued at $1,258,000. Finally, Bank of Nova Scotia purchased a new position in shares of Energen Corporation during the 2nd quarter valued at $20,241,000. Institutional investors own 94.01% 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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