Several other research analysts have also weighed in on the company. 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. BidaskClub lowered Energen Corporation from a sell rating to a strong sell rating in a research report on Tuesday, June 20th. TheStreet raised Energen Corporation from a d+ rating to a c- rating in a research report on Thursday, May 4th. BMO Capital Markets reissued a hold rating and set a $70.00 price target on shares of Energen Corporation in a research report on Thursday, June 22nd. Finally, Wolfe Research started coverage on Energen Corporation in a research report on Thursday, June 15th. They set a market perform rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $66.59.
Shares of Energen Corporation (NYSE EGN) opened at 49.22 on Tuesday. The firm has a 50-day moving average price of $49.96 and a 200-day moving average price of $52.68. Energen Corporation has a 52 week low of $46.16 and a 52 week high of $64.44. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 77.88 and a beta of 1.93.
Energen Corporation (NYSE:EGN) last posted its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $256.82 million for the quarter, compared to analyst estimates of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. Energen Corporation’s quarterly revenue was up 142.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.28) earnings per share. On average, equities analysts expect that Energen Corporation will post $0.45 earnings per share for the current fiscal year.
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In related news, Director Alan A. Kleier purchased 1,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was bought at an average price of $47.59 per share, for a total transaction of $47,590.00. Following the purchase, the director now owns 1,500 shares in the company, valued at approximately $71,385. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in 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 increased 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 last quarter. Victory Capital Management Inc. increased 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 last quarter. Bank of Montreal Can increased 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 last quarter. Finally, Elliott Management Corp acquired a new stake in shares of Energen Corporation during the first quarter valued at $46,274,000. Institutional investors own 95.64% 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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