Imperial Capital Begins Coverage on Energen Corporation (EGN)

Imperial Capital began coverage on shares of Energen Corporation (NYSE:EGN) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $61.00 price target on the oil and gas producer’s stock. Imperial Capital also issued estimates for Energen Corporation’s Q3 2017 earnings at $0.05 EPS, Q4 2017 earnings at $0.19 EPS, FY2017 earnings at $0.17 EPS and FY2018 earnings at $1.25 EPS.

A number of other brokerages have also recently issued reports on EGN. Zacks Investment Research cut shares of Energen Corporation from a hold rating to a sell rating in a report on Thursday, July 27th. Barclays PLC reaffirmed a hold rating and issued a $63.00 target price on shares of Energen Corporation in a report on Wednesday, May 24th. BMO Capital Markets reaffirmed a hold rating and issued a $70.00 target price on shares of Energen Corporation in a report on Friday, May 5th. Citigroup Inc. dropped their target price on shares of Energen Corporation from $58.00 to $56.00 and set a neutral rating on the stock in a report on Tuesday, August 15th. Finally, Williams Capital upped their target price on shares of Energen Corporation from $72.00 to $76.00 and gave the company a buy rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $66.00.

Shares of Energen Corporation (NYSE:EGN) opened at 50.56 on Tuesday. The stock has a 50 day moving average price of $50.23 and a 200 day moving average price of $52.36. The stock has a market cap of $4.91 billion, a P/E ratio of 80.00 and a beta of 1.93. Energen Corporation has a 12 month low of $46.16 and a 12 month high of $64.43.

Energen Corporation (NYSE:EGN) last issued its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. The company had revenue of $256.82 million for 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%. Energen Corporation’s quarterly revenue was up 142.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) EPS. Equities analysts anticipate that Energen Corporation will post $0.40 EPS for the current fiscal year.

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In other Energen Corporation news, Director Alan A. Kleier bought 1,000 shares of the stock in a transaction dated Friday, June 23rd. The shares were bought at an average cost of $47.59 per share, with a total value of $47,590.00. Following the completion of the acquisition, the director now owns 1,500 shares of the company’s stock, valued at $71,385. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Flinton Capital Management LLC boosted its position in shares of Energen Corporation by 10.8% in the first quarter. Flinton Capital Management LLC now owns 2,944 shares of the oil and gas producer’s stock valued at $160,000 after buying an additional 288 shares in the last quarter. Creative Planning boosted its position in shares of Energen Corporation by 8.0% in the second quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock valued at $167,000 after buying an additional 250 shares in the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Energen Corporation during the first quarter valued at approximately $200,000. Investment Counselors of Maryland LLC boosted its position in shares of Energen Corporation by 22.6% in the first quarter. Investment Counselors of Maryland LLC now owns 3,711 shares of the oil and gas producer’s stock valued at $202,000 after buying an additional 685 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Energen Corporation by 26.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,819 shares of the oil and gas producer’s stock valued at $208,000 after buying an additional 806 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors.

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.