A number of other brokerages also recently weighed in on EGN. TheStreet upgraded Energen Corp. from a sell rating to a hold rating in a report on Friday, August 26th. Stifel Nicolaus restated a buy rating on shares of Energen Corp. in a research note on Wednesday, August 31st. Williams Capital began coverage on Energen Corp. in a research note on Monday, August 29th. They issued a buy rating and a $68.00 target price on the stock. KeyCorp boosted their target price on Energen Corp. from $63.00 to $66.00 and gave the company an overweight rating in a research note on Monday, August 22nd. Finally, Barclays PLC boosted their target price on Energen Corp. from $52.00 to $60.00 and gave the company an equal weight rating in a research note on Tuesday, August 16th. Twelve research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $56.39.
Shares of Energen Corp. (NYSE:EGN) opened at 57.13 on Wednesday. The firm’s market cap is $5.55 billion. The firm’s 50-day moving average price is $55.95 and its 200-day moving average price is $47.55. Energen Corp. has a 52 week low of $20.76 and a 52 week high of $61.98.
Energen Corp. (NYSE:EGN) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $105.80 million for the quarter, compared to the consensus estimate of $144.31 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. Energen Corp.’s revenue for the quarter was down 37.1% compared to the same quarter last year. Equities research analysts expect that Energen Corp. will post ($1.37) EPS for the current fiscal year.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $52.58, for a total transaction of $537,157.28. Following the completion of the transaction, the chairman now owns 103,789 shares in the company, valued at approximately $5,457,225.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.02% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Energen Corp. by 23.0% in the first quarter. JPMorgan Chase & Co. now owns 10,866,300 shares of the company’s stock worth $397,597,000 after buying an additional 2,034,422 shares during the period. Vanguard Group Inc. boosted its position in shares of Energen Corp. by 4.3% in the second quarter. Vanguard Group Inc. now owns 7,517,189 shares of the company’s stock valued at $362,405,000 after buying an additional 310,178 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Energen Corp. by 5.1% in the second quarter. BlackRock Fund Advisors now owns 3,533,440 shares of the company’s stock valued at $170,347,000 after buying an additional 171,274 shares during the last quarter. State Street Corp boosted its position in shares of Energen Corp. by 6.5% in the first quarter. State Street Corp now owns 3,247,954 shares of the company’s stock valued at $118,838,000 after buying an additional 197,696 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Energen Corp. by 6.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,941,452 shares of the company’s stock valued at $141,807,000 after buying an additional 169,001 shares during the last quarter. Hedge funds and other institutional investors own 93.37% of the company’s stock.
Energen Corp. Company Profile
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.
Receive News & Ratings for Energen Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energen Corp. and related companies with MarketBeat.com's FREE daily email newsletter.