Energen Corporation (NYSE:EGN) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Energen Corporation (NYSE:EGN) from a sell rating to a hold rating in a research note released on Monday, July 24th.

A number of other equities research analysts have also recently issued reports on EGN. Citigroup Inc. increased their target price on shares of Energen Corporation from $55.00 to $58.00 and gave the stock a neutral rating in a research report on Friday, July 21st. J P Morgan Chase & Co cut shares of Energen Corporation from an overweight rating to a neutral rating and dropped their target price for the stock from $60.00 to $53.00 in a research report on Thursday, July 20th. Scotiabank reiterated a buy rating and set a $56.00 target price on shares of Energen Corporation in a research report on Friday, June 30th. BMO Capital Markets reiterated a hold rating and set a $70.00 target price on shares of Energen Corporation in a research report on Thursday, June 22nd. Finally, Wunderlich reiterated a buy rating and set a $83.00 target price on shares of Energen Corporation in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $66.59.

Shares of Energen Corporation (NYSE:EGN) traded up 0.86% during trading on Monday, hitting $49.22. The company had a trading volume of 1,697,110 shares. The firm has a market capitalization of $4.78 billion, a P/E ratio of 77.88 and a beta of 1.93. The stock’s 50-day moving average is $49.96 and its 200 day moving average is $52.68. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.44.

Energen Corporation (NYSE:EGN) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) 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 company had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $222.60 million. During the same quarter in the prior year, the company posted ($0.28) EPS. The business’s revenue was up 142.8% on a year-over-year basis. Equities research analysts predict that Energen Corporation will post $0.45 earnings per share for the current fiscal year.

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In other news, Director Alan A. Kleier bought 1,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average cost of $47.59 per share, for a total transaction of $47,590.00. Following the completion of the acquisition, the director now owns 1,500 shares in the company, valued at $71,385. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of EGN. Great West Life Assurance Co. Can boosted its position in Energen Corporation by 4.1% in the first quarter. Great West Life Assurance Co. Can now owns 57,592 shares of the oil and gas producer’s stock worth $3,133,000 after buying an additional 2,256 shares during the period. Tocqueville Asset Management L.P. boosted its position in Energen Corporation by 157.9% in the first quarter. Tocqueville Asset Management L.P. now owns 147,000 shares of the oil and gas producer’s stock worth $8,003,000 after buying an additional 90,000 shares during the period. Canada Pension Plan Investment Board boosted its position in Energen Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 266,800 shares of the oil and gas producer’s stock worth $14,525,000 after buying an additional 154,700 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in 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 worth $2,018,000 after buying an additional 250 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in Energen Corporation by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 34,275 shares of the oil and gas producer’s stock worth $1,866,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 95.64% 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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Analyst Recommendations for Energen Corporation (NYSE:EGN)

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