Barclays PLC Reaffirms Hold Rating for Energen Co. (EGN)
Energen Co. (NYSE:EGN)‘s stock had its “hold” rating reiterated by research analysts at Barclays PLC in a note issued to investors on Thursday. They currently have a $57.00 target price on the oil and gas producer’s stock. Barclays PLC’s price objective would suggest a potential upside of 10.17% from the stock’s current price.
A number of other brokerages have also recently weighed in on EGN. Drexel Hamilton reiterated a “buy” rating and set a $71.00 price target on shares of Energen in a research note on Wednesday, December 21st. Royal Bank of Canada reiterated a “hold” rating and set a $63.00 price target on shares of Energen in a research note on Wednesday, January 4th. BMO Capital Markets reiterated a “hold” rating and set a $70.00 price target on shares of Energen in a research note on Wednesday, January 11th. Zacks Investment Research upgraded shares of Energen from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Tuesday, February 14th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $72.00 price target on shares of Energen in a research note on Wednesday, January 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $64.39.
Energen (NYSE:EGN) traded down 0.27% during midday trading on Thursday, hitting $51.74. 1,616,862 shares of the stock traded hands. The stock’s market cap is $5.03 billion. The company has a 50-day moving average price of $52.82 and a 200 day moving average price of $55.38. Energen has a one year low of $38.11 and a one year high of $64.43.
Energen (NYSE:EGN) last issued its quarterly earnings results on Thursday, February 9th. The oil and gas producer reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.04. The business had revenue of $114.52 million for the quarter, compared to analyst estimates of $156.01 million. Energen had a negative return on equity of 4.19% and a negative net margin of 31.43%. The firm’s revenue for the quarter was down 40.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Equities research analysts anticipate that Energen will post $0.50 earnings per share for the current year.
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In other news, Chairman J T. Mcmanus sold 16,662 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $57.10, for a total value of $951,400.20. Following the completion of the transaction, the chairman now owns 125,107 shares in the company, valued at approximately $7,143,609.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Richardson sold 3,733 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $57.11, for a total transaction of $213,191.63. The disclosure for this sale can be found here. Insiders sold a total of 32,895 shares of company stock valued at $1,831,492 in the last quarter. Insiders own 1.02% of the company’s stock.
Several institutional investors have recently made changes to their positions in EGN. Louisiana State Employees Retirement System increased its position in shares of Energen by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 24,500 shares of the oil and gas producer’s stock worth $1,334,000 after buying an additional 500 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Energen by 7.2% in the first quarter. Capstone Asset Management Co. now owns 8,582 shares of the oil and gas producer’s stock worth $467,000 after buying an additional 580 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Energen during the fourth quarter worth about $6,206,000. Norges Bank bought a new position in shares of Energen during the fourth quarter worth about $41,885,000. Finally, Putnam Investments LLC increased its position in shares of Energen by 6.1% in the fourth quarter. Putnam Investments LLC now owns 374,562 shares of the oil and gas producer’s stock worth $21,601,000 after buying an additional 21,700 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.
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.
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