Energen Corporation’s (EGN) “Buy” Rating Reiterated at Mizuho
Mizuho reaffirmed their buy rating on shares of Energen Corporation (NYSE:EGN) in a research note issued to investors on Friday. The firm currently has a $69.00 target price on the oil and gas producer’s stock.
Other analysts have also recently issued research reports about the company. Morgan Stanley raised their target price on Energen Corporation from $52.00 to $56.00 and gave the stock an equal weight rating in a research report on Thursday, August 31st. Citigroup Inc. dropped their price target on Energen Corporation from $61.00 to $55.00 and set a neutral rating on the stock in a research report on Thursday, July 13th. Stifel Nicolaus reissued a buy rating and issued a $79.00 price objective on shares of Energen Corporation in a research note on Sunday, September 3rd. J P Morgan Chase & Co downgraded Energen Corporation from an overweight rating to a neutral rating and reduced their price objective for the stock from $60.00 to $53.00 in a research note on Thursday, July 20th. Finally, BMO Capital Markets restated a hold rating and set a $70.00 price objective on shares of Energen Corporation in a research report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $65.63.
Shares of Energen Corporation (NYSE:EGN) opened at 54.91 on Friday. Energen Corporation has a 52 week low of $46.16 and a 52 week high of $64.44. The firm has a 50-day moving average price of $51.61 and a 200-day moving average price of $52.19. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 86.88 and a beta of 1.95.
Energen Corporation (NYSE:EGN) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The firm had revenue of $256.82 million for the quarter, compared to analysts’ expectations of $222.60 million. During the same period in the previous year, the company posted ($0.28) EPS. The company’s quarterly revenue was up 142.8% compared to the same quarter last year. On average, equities analysts expect that Energen Corporation will post $0.39 earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Energen Corporation by 11.7% in the first quarter. Morgan Stanley now owns 226,536 shares of the oil and gas producer’s stock worth $12,333,000 after purchasing an additional 23,656 shares during the period. CarVal Investors LLC bought a new stake in Energen Corporation during the 1st quarter valued at approximately $5,444,000. Janus Capital Management LLC boosted its stake in Energen Corporation by 60.5% during the 1st quarter. Janus Capital Management LLC now owns 56,000 shares of the oil and gas producer’s stock valued at $3,049,000 after purchasing an additional 21,100 shares during the period. Chicago Equity Partners LLC boosted its stake in Energen Corporation by 170.6% during the 2nd quarter. Chicago Equity Partners LLC now owns 88,670 shares of the oil and gas producer’s stock valued at $4,378,000 after purchasing an additional 55,905 shares during the period. Finally, First Trust Advisors LP bought a new stake in Energen Corporation during the 2nd quarter valued at approximately $4,944,000. 94.01% of the stock is currently 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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