Energen (EGN) Coverage Initiated at Wells Fargo & Company
Equities research analysts at Wells Fargo & Company initiated coverage on shares of Energen (NYSE:EGN) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the oil and gas producer’s stock.
A number of other equities research analysts also recently weighed in on EGN. Barclays set a $57.00 price target on shares of Energen and gave the company a “hold” rating in a research report on Tuesday, August 15th. Mizuho reiterated a “buy” rating and issued a $69.00 price target on shares of Energen in a research report on Friday, September 29th. ValuEngine downgraded shares of Energen from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Williams Capital set a $76.00 price objective on shares of Energen and gave the company a “buy” rating in a research note on Tuesday, August 8th. Finally, Citigroup decreased their price objective on shares of Energen from $58.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.17.
Shares of Energen (NYSE EGN) opened at $54.94 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.24. Energen has a 1 year low of $46.16 and a 1 year high of $63.06.
Energen (NYSE:EGN) last released its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. The company had revenue of $191.50 million during the quarter, compared to the consensus estimate of $242.81 million. During the same period in the previous year, the business earned ($0.22) earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts expect that Energen will post 0.46 EPS for the current fiscal year.
In other Energen news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $57.01, for a total transaction of $142,525.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of EGN. Dimensional Fund Advisors LP grew its stake in shares of Energen by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 478,306 shares of the oil and gas producer’s stock worth $26,037,000 after buying an additional 53,273 shares during the last quarter. Capstone Asset Management Co. lifted its holdings in shares of Energen by 4.0% during the second quarter. Capstone Asset Management Co. now owns 8,922 shares of the oil and gas producer’s stock worth $440,000 after purchasing an additional 340 shares during the period. Creative Planning lifted its holdings in shares of Energen by 8.0% during the second quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock worth $167,000 after purchasing an additional 250 shares during the period. Aperio Group LLC lifted its holdings in shares of Energen by 17.3% during the second quarter. Aperio Group LLC now owns 13,506 shares of the oil and gas producer’s stock worth $667,000 after purchasing an additional 1,990 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of Energen by 16.4% during the second quarter. US Bancorp DE now owns 22,919 shares of the oil and gas producer’s stock worth $1,132,000 after purchasing an additional 3,233 shares during the period. 96.11% of the stock is currently owned by hedge funds and other institutional investors.
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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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