Other research analysts have also recently issued research reports about the company. KLR Group cut Energen Corp. from a buy rating to an accumulate rating and set a $51.00 price target on the stock. in a research report on Thursday, May 26th. Stifel Nicolaus raised their price target on Energen Corp. from $55.00 to $60.00 and gave the stock a buy rating in a research report on Tuesday, August 9th. Zacks Investment Research upgraded Energen Corp. from a hold rating to a buy rating and set a $58.00 price target on the stock in a research report on Friday, August 5th. Wunderlich raised their price target on Energen Corp. from $53.00 to $55.00 and gave the stock a buy rating in a research report on Tuesday, June 21st. Finally, Williams Capital began coverage on Energen Corp. in a research report on Monday, August 29th. They issued a buy rating and a $68.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $55.63.
Shares of Energen Corp. (NYSE:EGN) opened at 55.35 on Monday. The firm’s 50-day moving average price is $55.00 and its 200 day moving average price is $45.72. Energen Corp. has a one year low of $20.76 and a one year high of $61.98. The company’s market capitalization is $5.37 billion.
Energen Corp. (NYSE:EGN) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.09. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The company had revenue of $105.80 million for the quarter, compared to analysts’ expectations of $144.31 million. During the same quarter last year, the business earned $0.10 earnings per share. Energen Corp.’s revenue was down 37.1% on a year-over-year basis. Analysts anticipate that Energen Corp. will post ($1.37) earnings per share for the current year.
In other Energen Corp. news, CEO J T. Mcmanus sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $48.05, for a total value of $720,750.00. Following the transaction, the chief executive officer now directly owns 103,789 shares in the company, valued at approximately $4,987,061.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the completion of the transaction, the chairman now owns 103,789 shares in the company, valued at $5,457,225.62. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in EGN. Fox Run Management L.L.C. acquired a new position in shares of Energen Corp. during the first quarter worth $293,000. Texas Permanent School Fund raised its position in shares of Energen Corp. by 17.5% in the first quarter. Texas Permanent School Fund now owns 76,628 shares of the company’s stock worth $2,804,000 after buying an additional 11,415 shares in the last quarter. Virginia Retirement System acquired a new position in shares of Energen Corp. during the first quarter worth $937,000. Prudential Financial Inc. raised its position in shares of Energen Corp. by 31.4% in the first quarter. Prudential Financial Inc. now owns 63,199 shares of the company’s stock worth $2,312,000 after buying an additional 15,110 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Energen Corp. by 32.8% in the first quarter. Franklin Resources Inc. now owns 931,207 shares of the company’s stock worth $34,073,000 after buying an additional 230,207 shares in the last quarter. Institutional investors and hedge funds own 93.37% of the company’s stock.
About Energen Corp.
Energen Corporation (Energen) 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 in the Permian Basin in west Texas and the San Juan Basin in New Mexico. It is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin.
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