Energen Corporation (EGN) Coverage Initiated by Analysts at Wolfe Research
Other equities research analysts have also issued research reports about the company. Royal Bank of Canada set a $66.00 price objective on Energen Corporation and gave the stock a hold rating in a report on Thursday, April 20th. Scotiabank reissued a buy rating and issued a $64.00 price objective on shares of Energen Corporation in a report on Friday, May 5th. Citigroup Inc. reissued a neutral rating and issued a $62.00 price objective (up previously from $61.00) on shares of Energen Corporation in a report on Saturday, April 22nd. BMO Capital Markets reissued a hold rating and issued a $70.00 price objective on shares of Energen Corporation in a report on Monday, May 15th. Finally, Stifel Nicolaus reissued a buy rating and issued a $81.00 price objective on shares of Energen Corporation in a report on Friday, May 26th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $68.83.
Energen Corporation (EGN) traded down 1.29% during trading on Thursday, hitting $51.34. 522,834 shares of the company traded hands. The company has a market capitalization of $4.99 billion, a P/E ratio of 72.72 and a beta of 1.88. The stock has a 50 day moving average price of $54.57 and a 200 day moving average price of $55.03. Energen Corporation has a 12-month low of $43.29 and a 12-month high of $64.43.
Energen Corporation (NYSE:EGN) last announced its quarterly earnings data on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by $0.01. Energen Corporation had a negative return on equity of 2.79% and a net margin of 10.69%. The firm had revenue of $240.90 million during the quarter, compared to analysts’ expectations of $166.69 million. During the same period last year, the business posted ($0.64) EPS. The company’s revenue was up 87.9% compared to the same quarter last year. On average, equities analysts anticipate that Energen Corporation will post $0.61 earnings per share for the current year.
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In other news, VP Charles W. Porter sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $54.60, for a total transaction of $327,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of EGN. Flinton Capital Management LLC acquired a new position in shares of Energen Corporation during the fourth quarter valued at approximately $153,000. Greenwood Capital Associates LLC acquired a new position in shares of Energen Corporation during the first quarter valued at approximately $200,000. Investment Counselors of Maryland LLC raised its position in shares of Energen Corporation by 22.6% in the first quarter. Investment Counselors of Maryland LLC now owns 3,711 shares of the oil and gas producer’s stock valued at $202,000 after buying an additional 685 shares during the last quarter. Cigna Investments Inc. New acquired a new position in shares of Energen Corporation during the fourth quarter valued at approximately $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Energen Corporation by 26.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,819 shares of the oil and gas producer’s stock valued at $208,000 after buying an additional 806 shares during the last quarter. 94.43% of the stock is owned by institutional investors.
About Energen Corporation
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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