EGN has been the subject of several other research reports. Canaccord Genuity started coverage on Energen Corp. in a report on Monday, September 19th. They issued a buy rating and a $66.00 price target for the company. Mizuho started coverage on Energen Corp. in a report on Wednesday, October 5th. They issued a buy rating and a $70.00 price target for the company. TheStreet raised Energen Corp. from a sell rating to a hold rating in a report on Friday, August 26th. Zacks Investment Research raised Energen Corp. from a hold rating to a buy rating and set a $53.00 target price for the company in a report on Wednesday, July 6th. Finally, Stifel Nicolaus started coverage on Energen Corp. in a report on Thursday, June 16th. They set a buy rating and a $55.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Energen Corp. currently has an average rating of Buy and a consensus price target of $57.18.
Shares of Energen Corp. (NYSE:EGN) opened at 56.82 on Thursday. The firm’s 50-day moving average is $56.28 and its 200-day moving average is $48.67. Energen Corp. has a one year low of $20.76 and a one year high of $61.98. The stock’s market capitalization is $5.52 billion.
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, topping the consensus estimate of ($0.37) by $0.09. The business earned $105.80 million during the quarter, compared to the consensus estimate of $144.31 million. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The company’s quarterly revenue was down 37.1% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts forecast that Energen Corp. will post ($1.37) EPS for the current year.
In other news, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the transaction, the chairman now owns 103,789 shares of the company’s stock, valued at approximately $5,457,225.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.02% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. 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 valued at $2,312,000 after buying an additional 15,110 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Energen Corp. by 3,371.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 520,790 shares of the company’s stock valued at $19,056,000 after buying an additional 505,790 shares during the period. Bogle Investment Management L P DE acquired a new position in shares of Energen Corp. during the first quarter valued at approximately $1,484,000. Retirement Systems of Alabama raised its position in shares of Energen Corp. by 6.2% in the second quarter. Retirement Systems of Alabama now owns 294,215 shares of the company’s stock valued at $14,184,000 after buying an additional 17,069 shares during the period. Finally, HBK Investments L P raised its position in shares of Energen Corp. by 125.5% in the first quarter. HBK Investments L P now owns 100,289 shares of the company’s stock valued at $3,670,000 after buying an additional 55,815 shares during the period. 93.34% of the stock is currently owned by institutional investors and hedge funds.
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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