Energen Corporation (EGN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Energen Corporation (NYSE:EGN) from a hold rating to a sell rating in a report released on Thursday, July 27th.

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. “

EGN has been the topic of a number of other reports. BidaskClub cut shares of Energen Corporation from a sell rating to a strong sell rating in a research note on Tuesday, June 20th. Citigroup Inc. lifted their target price on Energen Corporation from $55.00 to $58.00 and gave the stock a neutral rating in a report on Friday, July 21st. Credit Suisse Group reaffirmed an outperform rating and set a $73.00 target price on shares of Energen Corporation in a report on Friday, June 2nd. Williams Capital reissued a buy rating and issued a $72.00 price target on shares of Energen Corporation in a research note on Friday, May 5th. Finally, ValuEngine cut Energen Corporation from a hold rating to a sell rating in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $66.23.

Shares of Energen Corporation (EGN) opened at 48.08 on Thursday. The stock has a market cap of $4.67 billion, a P/E ratio of 76.08 and a beta of 1.93. Energen Corporation has a 12 month low of $46.16 and a 12 month high of $64.43. The stock’s 50 day moving average is $50.01 and its 200 day moving average is $52.54.

Energen Corporation (NYSE:EGN) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The business 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 business earned ($0.28) earnings per share. The company’s revenue was up 142.8% on a year-over-year basis. Analysts predict that Energen Corporation will post $0.43 earnings per share for the current fiscal year.

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In other Energen Corporation news, Director Alan A. Kleier acquired 1,000 shares of Energen Corporation stock in a transaction on Friday, June 23rd. The shares were bought at an average price of $47.59 per share, with a total value of $47,590.00. Following the completion of the purchase, the director now owns 1,500 shares in the company, valued at $71,385. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Several institutional investors have recently modified their holdings of EGN. Teacher Retirement System of Texas raised its position in shares of Energen Corporation by 1.4% in the first quarter. Teacher Retirement System of Texas now owns 7,761 shares of the oil and gas producer’s stock valued at $423,000 after buying an additional 110 shares during the period. World Asset Management Inc raised its position in shares of Energen Corporation by 1.8% in the first quarter. World Asset Management Inc now owns 6,588 shares of the oil and gas producer’s stock valued at $359,000 after buying an additional 114 shares during the period. HighTower Advisors LLC raised its position in shares of Energen Corporation by 2.3% in the second quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock valued at $264,000 after buying an additional 119 shares during the period. Utah Retirement Systems raised its position in shares of Energen Corporation by 1.1% in the second quarter. Utah Retirement Systems now owns 17,822 shares of the oil and gas producer’s stock valued at $880,000 after buying an additional 200 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Energen Corporation by 0.7% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 37,060 shares of the oil and gas producer’s stock valued at $2,018,000 after buying an additional 250 shares during the period. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Energen Corporation Company Profile

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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