Energen (NYSE:EGN) had its price target increased by Morgan Stanley from $79.00 to $93.00 in a research report sent to investors on Thursday morning. Morgan Stanley currently has a buy rating on the oil and gas producer’s stock.
A number of other equities research analysts have also issued reports on EGN. Seaport Global Securities raised shares of Energen from a neutral rating to a buy rating in a research note on Friday, January 26th. Stifel Nicolaus set a $85.00 target price on shares of Energen and gave the company a buy rating in a research note on Monday, January 29th. Deutsche Bank started coverage on shares of Energen in a research note on Thursday, February 1st. They set a buy rating and a $70.00 target price for the company. Zacks Investment Research raised shares of Energen from a hold rating to a strong-buy rating and set a $60.00 price objective for the company in a research note on Thursday, February 1st. Finally, ValuEngine lowered shares of Energen from a hold rating to a sell rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $71.95.
Shares of NYSE:EGN opened at $66.20 on Thursday. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 38.94 and a beta of 1.43. Energen has a 12-month low of $46.16 and a 12-month high of $71.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.53 and a quick ratio of 0.48.
Energen (NYSE:EGN) last issued its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. The company had revenue of $356.17 million during the quarter, compared to analyst estimates of $335.96 million. Energen had a net margin of 34.60% and a return on equity of 4.95%. The company’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) EPS. equities analysts forecast that Energen will post 3.43 EPS for the current fiscal year.
In other news, Director Jonathan Z. Cohen bought 17,500 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were purchased at an average price of $57.36 per share, for a total transaction of $1,003,800.00. Following the acquisition, the director now directly owns 17,500 shares of the company’s stock, valued at approximately $1,003,800. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Godsey sold 6,000 shares of Energen stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $57.77, for a total transaction of $346,620.00. The disclosure for this sale can be found here. Insiders sold a total of 13,916 shares of company stock worth $863,535 in the last quarter. Insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Energen by 32.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,813 shares of the oil and gas producer’s stock worth $335,000 after acquiring an additional 1,436 shares during the period. SG Americas Securities LLC increased its holdings in shares of Energen by 711.2% during the 4th quarter. SG Americas Securities LLC now owns 41,630 shares of the oil and gas producer’s stock worth $2,397,000 after purchasing an additional 36,498 shares during the period. Meadow Creek Investment Management LLC increased its holdings in shares of Energen by 18.0% during the 4th quarter. Meadow Creek Investment Management LLC now owns 8,778 shares of the oil and gas producer’s stock worth $505,000 after purchasing an additional 1,342 shares during the period. First Trust Advisors LP increased its holdings in shares of Energen by 20.5% during the 4th quarter. First Trust Advisors LP now owns 151,480 shares of the oil and gas producer’s stock worth $8,721,000 after purchasing an additional 25,752 shares during the period. Finally, CoreCommodity Management LLC bought a new position in shares of Energen during the 4th quarter worth about $617,000. Hedge funds and other institutional investors own 92.49% of the company’s stock.
Energen Company Profile
Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations 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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