Williams Capital set a $76.00 price objective on Energen Corporation (NYSE:EGN) in a research report released on Tuesday morning. The brokerage currently has a buy rating on the oil and gas producer’s stock.
EGN has been the subject of several other research reports. TheStreet upgraded shares of Energen Corporation from a d+ rating to a c- rating in a research report on Thursday, May 4th. BMO Capital Markets reiterated a hold rating and set a $70.00 target price on shares of Energen Corporation in a research report on Thursday, June 22nd. ValuEngine upgraded shares of Energen Corporation from a sell rating to a hold rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of Energen Corporation from a sell rating to a hold rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada set a $65.00 price target on shares of Energen Corporation and gave the company a hold rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $66.59.
Energen Corporation (NYSE EGN) traded up 0.86% during midday trading on Tuesday, hitting $49.22. The stock had a trading volume of 1,697,110 shares. The company has a market cap of $4.78 billion, a P/E ratio of 77.88 and a beta of 1.93. The stock’s 50-day moving average is $49.96 and its 200-day moving average is $52.68. Energen Corporation has a one year low of $46.16 and a one year high of $64.44.
Energen Corporation (NYSE:EGN) last issued its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $222.60 million. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The business’s revenue for the quarter was up 142.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.28) EPS. Equities analysts predict that Energen Corporation will post $0.45 EPS for the current fiscal year.
In other Energen Corporation news, Director Alan A. Kleier purchased 1,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were purchased at an average cost of $47.59 per share, with a total value of $47,590.00. Following the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $71,385. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.
A number of large investors have recently modified their holdings of EGN. BlackRock Inc. boosted its stake in shares of Energen Corporation by 5,491.7% in the first quarter. BlackRock Inc. now owns 9,266,613 shares of the oil and gas producer’s stock valued at $504,475,000 after buying an additional 9,100,891 shares during the period. Credit Suisse AG boosted its stake in shares of Energen Corporation by 2,708.2% in the first quarter. Credit Suisse AG now owns 2,993,073 shares of the oil and gas producer’s stock valued at $162,943,000 after buying an additional 2,886,489 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Energen Corporation by 34.9% in the second quarter. Victory Capital Management Inc. now owns 3,832,506 shares of the oil and gas producer’s stock valued at $189,211,000 after buying an additional 990,600 shares during the period. Bank of Montreal Can boosted its stake in shares of Energen Corporation by 58,522.2% in the second quarter. Bank of Montreal Can now owns 983,680 shares of the oil and gas producer’s stock valued at $48,564,000 after buying an additional 982,002 shares during the period. Finally, Elliott Management Corp acquired a new stake in shares of Energen Corporation during the first quarter valued at approximately $46,274,000. 95.64% of the stock is currently owned by hedge funds and other 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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