Energen Corporation (NYSE:EGN)‘s stock had its “sector perform” rating reissued by stock analysts at Royal Bank Of Canada in a note issued to investors on Thursday, November 9th, Marketbeat Ratings reports. They currently have a $59.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $56.00. Royal Bank Of Canada’s target price points to a potential upside of 6.83% from the company’s previous close.
Several other research analysts have also recently commented on EGN. ValuEngine raised Energen Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Barclays PLC set a $57.00 target price on Energen Corporation and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Mizuho reaffirmed a “buy” rating and set a $69.00 price target on shares of Energen Corporation in a report on Friday, September 29th. Williams Capital set a $76.00 price target on Energen Corporation and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, Citigroup Inc. decreased their price target on Energen Corporation from $58.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $66.17.
Energen Corporation (NYSE EGN) traded down $0.06 on Thursday, reaching $55.23. The company had a trading volume of 850,500 shares, compared to its average volume of 1,362,503. Energen Corporation has a 1 year low of $46.16 and a 1 year high of $64.44. 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 Corporation (NYSE:EGN) last released its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. Energen Corporation had a negative return on equity of 0.45% and a negative net margin of 1.17%. The firm had revenue of $191.50 million during the quarter, compared to analysts’ expectations of $242.81 million. During the same period in the previous year, the firm posted ($0.22) EPS. Energen Corporation’s revenue for the quarter was up 3.9% on a year-over-year basis. research analysts forecast that Energen Corporation will post 0.41 EPS for the current fiscal year.
In other Energen Corporation news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the company’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 transaction of $142,525.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in Energen Corporation during the 3rd quarter worth approximately $582,000. California Public Employees Retirement System increased its position in Energen Corporation by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 144,100 shares of the oil and gas producer’s stock worth $7,879,000 after purchasing an additional 2,900 shares during the period. Highbridge Capital Management LLC acquired a new position in Energen Corporation during the 3rd quarter worth approximately $15,830,000. Alyeska Investment Group L.P. increased its position in Energen Corporation by 86.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 396,708 shares of the oil and gas producer’s stock worth $21,692,000 after purchasing an additional 184,416 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in Energen Corporation during the 3rd quarter worth approximately $209,000. Institutional investors own 97.21% 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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