Energen (NYSE:EGN) received a $70.00 target price from equities research analysts at KeyCorp in a research note issued on Sunday. The firm currently has a “buy” rating on the oil and gas producer’s stock. KeyCorp’s price objective suggests a potential upside of 21.78% from the stock’s current price.
Other analysts also recently issued research reports about the stock. Wells Fargo & Co began coverage on shares of Energen in a report on Friday, December 1st. They set a “hold” rating for the company. Credit Suisse Group began coverage on shares of Energen in a report on Monday, December 11th. They set a “neutral” rating and a $60.00 target price for the company. Zacks Investment Research raised shares of Energen from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Thursday, October 12th. Jefferies Group started coverage on shares of Energen in a report on Monday, October 9th. They issued a “buy” rating and a $68.00 price objective for the company. Finally, Barclays raised shares of Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective for the company in a report on Monday, November 20th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $65.18.
Shares of Energen (NYSE:EGN) traded up $0.07 during mid-day trading on Friday, hitting $57.48. 2,334,200 shares of the company traded hands, compared to its average volume of 859,200. The company has a market cap of $5,670.00, a P/E ratio of -522.55 and a beta of 1.90. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24. Energen has a 1-year low of $46.16 and a 1-year high of $60.07.
Energen (NYSE:EGN) last announced its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, topping the consensus estimate of $0.15 by $0.05. The business had revenue of $191.50 million during the quarter, compared to the consensus estimate of $242.81 million. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. Energen’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.22) EPS. equities research analysts anticipate that Energen will post 0.5 earnings per share for the current fiscal year.
In other 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 shares were sold at an average price of $57.01, for a total transaction of $142,525.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Corvex Management Lp sold 80,294 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $57.56, for a total transaction of $4,621,722.64. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in EGN. Bank of Nova Scotia acquired a new position in Energen during the 2nd quarter worth approximately $20,241,000. Scout Investments Inc. acquired a new position in Energen during the 3rd quarter worth approximately $21,713,000. Highbridge Capital Management LLC acquired a new position in Energen during the 3rd quarter worth approximately $15,830,000. Caxton Associates LP acquired a new position in Energen during the 2nd quarter worth approximately $13,911,000. Finally, Systematic Financial Management LP increased its position in Energen by 19.5% during 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 purchasing an additional 214,802 shares in the last quarter. Institutional investors and hedge funds own 96.14% of the company’s stock.
Energen 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.