Energen Corporation (EGN) Price Target Increased to $61.00 by Analysts at Barclays PLC
Energen Corporation (NYSE:EGN) had its price objective increased by analysts at Barclays PLC from $57.00 to $61.00 in a research note issued on Wednesday. The brokerage currently has an “equal weight” rating on the oil and gas producer’s stock. Barclays PLC’s price objective suggests a potential upside of 14.83% from the company’s current price.
Several other research firms have also issued reports on EGN. Mizuho restated a “buy” rating and issued a $69.00 target price on shares of Energen Corporation in a report on Friday, September 29th. SunTrust Banks, Inc. restated a “buy” rating and issued a $70.00 target price on shares of Energen Corporation in a report on Monday, October 2nd. Wolfe Research began coverage on shares of Energen Corporation in a report on Thursday, June 15th. They issued a “market perform” rating and a $60.00 target price on the stock. Zacks Investment Research lowered shares of Energen Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Stifel Nicolaus set a $80.00 target price on shares of Energen Corporation and gave the company a “buy” rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. Energen Corporation presently has an average rating of “Buy” and an average price target of $66.21.
Shares of Energen Corporation (NYSE:EGN) traded down 0.744% during mid-day trading on Wednesday, reaching $52.725. The company had a trading volume of 241,521 shares. Energen Corporation has a one year low of $46.16 and a one year high of $64.44. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 76.413 and a beta of 1.95. The stock has a 50 day moving average of $52.34 and a 200-day moving average of $52.26.
Energen Corporation (NYSE:EGN) last released its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $256.82 million for the quarter, compared to analyst estimates of $222.60 million. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. Energen Corporation’s revenue for the quarter was up 142.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.28) earnings per share. Equities analysts predict that Energen Corporation will post $0.41 EPS for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of EGN. Creative Planning raised its holdings in shares of Energen Corporation by 8.0% in the 2nd quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 250 shares during the last quarter. Optimum Investment Advisors acquired a new stake in shares of Energen Corporation in the 2nd quarter worth about $228,000. Laurion Capital Management LP acquired a new stake in shares of Energen Corporation in the 1st quarter worth about $229,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Energen Corporation in the 1st quarter worth about $231,000. Finally, Capital Insight Partners LLC acquired a new stake in shares of Energen Corporation in the 2nd quarter worth about $237,000. Institutional investors own 94.01% 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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