Morgan Stanley reissued their hold rating on shares of Energen (NYSE:EGN) in a report issued on Friday morning. The brokerage currently has a $83.00 target price on the oil and gas producer’s stock, down from their prior target price of $86.00.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Energen from a hold rating to a buy rating and set a $97.00 price objective for the company in a report on Monday, October 1st. National Alliance Securities downgraded shares of Energen from a buy rating to a hold rating in a report on Wednesday, September 19th. ValuEngine raised shares of Energen from a hold rating to a buy rating in a report on Tuesday, September 18th. Argus downgraded shares of Energen from a buy rating to a hold rating in a report on Tuesday, September 11th. Finally, Seaport Global Securities downgraded shares of Energen from a buy rating to a neutral rating and set a $73.00 price objective for the company. in a report on Friday, September 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $77.62.
Energen stock traded up $1.10 during mid-day trading on Friday, reaching $80.73. The company had a trading volume of 809,040 shares, compared to its average volume of 1,353,048. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.50. Energen has a 52 week low of $47.81 and a 52 week high of $89.83. The company has a market cap of $8.40 billion, a PE ratio of 107.64 and a beta of 1.37.
Energen (NYSE:EGN) last issued its quarterly earnings results on Tuesday, August 7th. The oil and gas producer reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $339.65 million during the quarter, compared to the consensus estimate of $336.78 million. Energen had a net margin of 35.43% and a return on equity of 6.83%. Analysts expect that Energen will post 3.38 earnings per share for the current fiscal year.
In other news, insider Carl C. Icahn purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was purchased at an average cost of $74.59 per share, with a total value of $7,459,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carl C. Icahn acquired 600 shares of the stock in a transaction on Monday, July 16th. The stock was bought at an average price of $73.65 per share, with a total value of $44,190.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,815,836 shares of company stock valued at $133,629,337 over the last three months. 1.05% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bray Capital Advisors acquired a new stake in shares of Energen during the 2nd quarter worth approximately $124,000. Cerebellum GP LLC acquired a new position in Energen during the second quarter valued at approximately $188,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Energen during the second quarter valued at approximately $196,000. Bank of Montreal Can grew its holdings in Energen by 108.6% during the third quarter. Bank of Montreal Can now owns 2,309 shares of the oil and gas producer’s stock valued at $198,000 after purchasing an additional 29,176 shares during the period. Finally, Lourd Capital LLC acquired a new position in Energen during the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 93.14% of the company’s stock.
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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