Energen (EGN) Receives New Coverage from Analysts at Credit Suisse Group
Credit Suisse Group initiated coverage on shares of Energen (NYSE:EGN) in a research note issued on Monday. The firm set a “neutral” rating and a $60.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s target price suggests a potential upside of 9.63% from the company’s previous close.
Several other analysts also recently issued reports on EGN. Barclays set a $57.00 price target on Energen and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Mizuho reissued a “buy” rating and set a $69.00 price objective on shares of Energen in a research report on Friday, September 29th. Citigroup cut their price objective on Energen from $58.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, August 15th. ValuEngine cut Energen from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, Stifel Nicolaus set a $80.00 price objective on Energen and gave the stock a “buy” rating in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $65.61.
Energen (NYSE:EGN) traded up $0.38 on Monday, hitting $54.73. The stock had a trading volume of 361,600 shares, compared to its average volume of 1,321,007. Energen has a 52 week low of $46.16 and a 52 week high of $63.06. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24.
In other Energen news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $57.01, for a total value of $142,525.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Energen by 34.9% in the 2nd quarter. Victory Capital Management Inc. now owns 3,832,506 shares of the oil and gas producer’s stock worth $189,211,000 after buying an additional 990,600 shares in the last quarter. State Street Corp raised its holdings in shares of Energen by 0.7% in the 2nd quarter. State Street Corp now owns 3,330,220 shares of the oil and gas producer’s stock worth $164,414,000 after buying an additional 24,037 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its holdings in shares of Energen by 4.6% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,504,716 shares of the oil and gas producer’s stock worth $74,288,000 after buying an additional 65,823 shares in the last quarter. Systematic Financial Management LP raised its holdings in shares of Energen by 19.5% in the 3rd quarter. Systematic Financial Management LP now owns 1,314,711 shares of the oil and gas producer’s stock worth $71,888,000 after buying an additional 214,802 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Energen by 26.0% in the 2nd quarter. Franklin Resources Inc. now owns 1,240,582 shares of the oil and gas producer’s stock worth $61,248,000 after buying an additional 255,875 shares in the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.
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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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