Energen (NYSE:EGN)‘s stock had its “hold” rating reiterated by analysts at Morgan Stanley in a research report issued to clients and investors on Friday. They currently have a $83.00 target price on the oil and gas producer’s stock, down from their prior target price of $86.00. Morgan Stanley’s price objective suggests a potential upside of 2.81% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Johnson Rice lowered shares of Energen from an “accumulate” rating to a “hold” rating in a research report on Wednesday, August 15th. Williams Capital reiterated a “hold” rating and issued a $87.00 target price on shares of Energen in a research report on Tuesday, August 7th. Argus lowered shares of Energen from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine lowered shares of Energen from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Finally, KLR Group restated a “buy” rating and set a $91.00 price objective on shares of Energen in a research report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $77.62.
Shares of EGN opened at $80.73 on Friday. The stock has a market capitalization of $8.40 billion, a P/E ratio of 107.69 and a beta of 1.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.50. Energen has a 52-week low of $47.81 and a 52-week high of $89.83.
Energen (NYSE:EGN) last announced its earnings results on Tuesday, August 7th. The oil and gas producer reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. The firm had revenue of $339.65 million during the quarter, compared to analyst estimates of $336.78 million. Energen had a net margin of 35.43% and a return on equity of 6.83%. Equities research analysts expect that Energen will post 3.38 EPS for the current fiscal year.
In other Energen news, VP Russell E. Jr. Lynch sold 2,233 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $77.80, for a total transaction of $173,727.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carl C. Icahn acquired 600 shares of Energen stock in a transaction on Monday, July 16th. The shares were purchased at an average cost of $73.65 per share, with a total value of $44,190.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,815,836 shares of company stock valued at $133,629,337. Insiders own 1.05% of the company’s stock.
A number of hedge funds have recently bought and sold shares of EGN. Third Point LLC purchased a new stake in Energen during the second quarter valued at about $98,307,000. Lord Abbett & CO. LLC purchased a new stake in Energen during the first quarter valued at about $25,144,000. Morgan Stanley lifted its stake in Energen by 103.5% during the second quarter. Morgan Stanley now owns 686,810 shares of the oil and gas producer’s stock valued at $50,014,000 after buying an additional 349,259 shares in the last quarter. PointState Capital LP purchased a new stake in Energen during the first quarter valued at about $19,329,000. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in Energen during the second quarter valued at about $22,037,000. 93.14% of the stock is owned by institutional investors.
Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations 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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