Energen Corporation (NYSE:EGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $60.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.87% from the stock’s current price.

According to Zacks, “ENERGEN CORP is a diversified energy holding company engaged in natural gas distribution and oil and natural gas exploration and production activities. The Corporation’s utility subsidiary, Alabama Gas Corporation, is the largest natural gas distribution utility in the State of Alabama. The Corporation’s oil and gas exploration and production activities are conducted by its subsidiary, Taurus Exploration, Inc. and its subsidiary. “

Several other analysts have also issued reports on the stock. Morgan Stanley increased their price target on shares of Energen Corporation from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 31st. Citigroup Inc. reduced their price target on shares of Energen Corporation from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, July 13th. Stifel Nicolaus reiterated a “buy” rating and set a $79.00 price target on shares of Energen Corporation in a research report on Sunday, September 3rd. J P Morgan Chase & Co lowered shares of Energen Corporation from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $60.00 to $53.00 in a research report on Thursday, July 20th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $70.00 price target on shares of Energen Corporation in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $65.96.

Energen Corporation (NYSE EGN) traded up 0.04% on Thursday, hitting $53.16. 1,008,784 shares of the stock were exchanged. Energen Corporation has a 1-year low of $46.16 and a 1-year high of $64.43. The company has a 50-day moving average price of $52.48 and a 200 day moving average price of $52.27. The company has a market capitalization of $5.17 billion, a PE ratio of 84.11 and a beta of 1.95.

Energen Corporation (NYSE:EGN) last posted its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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%. The firm’s revenue for the quarter was up 142.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.28) EPS. Analysts anticipate that Energen Corporation will post $0.42 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in shares of Energen Corporation by 1.4% during 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 acquiring an additional 110 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Energen Corporation by 2.3% during the second quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock valued at $264,000 after acquiring an additional 119 shares during the last quarter. Utah Retirement Systems raised its stake in shares of Energen Corporation by 1.1% during the second quarter. Utah Retirement Systems now owns 17,822 shares of the oil and gas producer’s stock valued at $880,000 after acquiring an additional 200 shares during the last quarter. Creative Planning raised its stake in shares of Energen Corporation by 8.0% during the second quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock valued at $167,000 after acquiring an additional 250 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Energen Corporation by 0.6% during the first quarter. PNC Financial Services Group Inc. now owns 47,789 shares of the oil and gas producer’s stock valued at $2,601,000 after acquiring an additional 273 shares during the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Energen Corporation (NYSE:EGN)

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