Energen Corporation (EGN) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Energen Corporation (NYSE:EGN) from a hold rating to a sell rating in a report published on Thursday.
According to Zacks, “ENERGEN CORP is a diversified energy holding company engaged in natural gas distribution and oil and natural gas exploration and production activities. The Corporation’s utility subsidiary, Alabama Gas Corporation, is the largest natural gas distribution utility in the State of Alabama. The Corporation’s oil and gas exploration and production activities are conducted by its subsidiary, Taurus Exploration, Inc. and its subsidiary. “
A number of other research analysts also recently commented on EGN. Stifel Nicolaus reissued a buy rating and issued a $80.00 price target on shares of Energen Corporation in a report on Thursday, April 13th. Barclays PLC restated a hold rating and set a $57.00 price objective (down previously from $63.00) on shares of Energen Corporation in a research note on Thursday, April 20th. Royal Bank Of Canada set a $66.00 price objective on Energen Corporation and gave the company a hold rating in a research note on Thursday, April 20th. Citigroup Inc. restated a neutral rating and set a $62.00 price objective (up previously from $61.00) on shares of Energen Corporation in a research note on Saturday, April 22nd. Finally, BMO Capital Markets restated a hold rating and set a $70.00 price objective on shares of Energen Corporation in a research note on Friday, May 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $66.68.
Energen Corporation (NYSE EGN) traded down 1.54% on Thursday, reaching $53.19. The company’s stock had a trading volume of 303,004 shares. Energen Corporation has a 52 week low of $44.73 and a 52 week high of $64.43. The firm’s 50 day moving average price is $50.44 and its 200-day moving average price is $53.05. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 75.34 and a beta of 1.93.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $240.90 million during the quarter, compared to analysts’ expectations of $166.69 million. Energen Corporation had a net margin of 10.69% and a negative return on equity of 2.79%. The company’s revenue for the quarter was up 87.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.64) EPS. On average, equities analysts predict that Energen Corporation will post $0.44 EPS for the current year.
In other Energen Corporation news, Director Alan A. Kleier bought 1,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were purchased at an average cost of $47.59 per share, for a total transaction of $47,590.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at $71,385. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP acquired a new stake in Energen Corporation during the fourth quarter valued at approximately $411,000. Guggenheim Capital LLC boosted its stake in Energen Corporation by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 17,899 shares of the oil and gas producer’s stock valued at $1,032,000 after buying an additional 2,424 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Energen Corporation during the fourth quarter valued at approximately $6,206,000. Capstone Asset Management Co. boosted its stake in Energen Corporation by 7.2% in the first quarter. Capstone Asset Management Co. now owns 8,582 shares of the oil and gas producer’s stock valued at $467,000 after buying an additional 580 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Energen Corporation 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 valued at $1,334,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 95.12% of the company’s stock.
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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