Equities research analysts at Credit Suisse Group initiated coverage on shares of Energen (NYSE:EGN) in a research note issued on Monday. The brokerage set a “neutral” rating and a $60.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s price objective indicates a potential upside of 9.81% from the stock’s previous close.
A number of other equities analysts also recently weighed in on the company. Morgan Stanley boosted their price target on Energen from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 31st. Stifel Nicolaus restated a “buy” rating and set a $79.00 price objective on shares of Energen in a report on Sunday, September 3rd. Wells Fargo & Company began coverage on Energen in a report on Friday, December 1st. They set a “hold” rating for the company. Barclays upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective for the company in a report on Monday, November 20th. Finally, Citigroup boosted their price objective on Energen from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.61.
Energen (EGN) opened at $54.64 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24. Energen has a 12-month low of $46.16 and a 12-month high of $61.23.
Energen (NYSE:EGN) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The firm had revenue of $191.50 million for the quarter, compared to the consensus estimate of $242.81 million. Energen had a negative return on equity of 0.45% and a negative net margin of 1.17%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.22) earnings per share. equities research analysts anticipate that Energen will post 0.47 earnings per share for the current year.
In related news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $57.01, for a total value of $142,525.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.
Several hedge funds have recently modified their holdings of EGN. Aperio Group LLC lifted its stake in 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 last quarter. Janney Montgomery Scott LLC bought a new stake in Energen during the second quarter worth $423,000. Great West Life Assurance Co. Can lifted its stake in Energen by 0.9% during the second quarter. Great West Life Assurance Co. Can now owns 58,112 shares of the oil and gas producer’s stock worth $2,867,000 after purchasing an additional 520 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Energen by 43.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 434,965 shares of the oil and gas producer’s stock worth $21,475,000 after purchasing an additional 130,899 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Energen by 1.2% during the second quarter. Arizona State Retirement System now owns 40,900 shares of the oil and gas producer’s stock worth $2,019,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.
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Energen 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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