Zacks Investment Research downgraded shares of Energen Corporation (NYSE:EGN) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “ENERGEN CORP is a diversified energy holding company engaged in natural gas distribution and oil and natural gas exploration and production activities. The Corporation’s utility subsidiary, Alabama Gas Corporation, is the largest natural gas distribution utility in the State of Alabama. The Corporation’s oil and gas exploration and production activities are conducted by its subsidiary, Taurus Exploration, Inc. and its subsidiary. “
Several other analysts also recently issued reports on EGN. Seaport Global Securities raised Energen Corporation from a sell rating to a neutral rating and lifted their price target for the company from $38.00 to $46.00 in a research note on Friday, August 11th. ValuEngine upgraded Energen Corporation from a sell rating to a hold rating in a report on Monday, July 24th. Mizuho restated a buy rating and issued a $69.00 price objective on shares of Energen Corporation in a report on Friday, September 29th. Stifel Nicolaus set a $80.00 price objective on Energen Corporation and gave the company a buy rating in a report on Thursday, October 5th. Finally, Citigroup Inc. raised their price objective on Energen Corporation from $55.00 to $58.00 and gave the company a neutral rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the stock. Energen Corporation has a consensus rating of Buy and an average target price of $66.00.
Shares of Energen Corporation (EGN) traded up 1.94% on Thursday, hitting $50.44. The stock had a trading volume of 969,465 shares. The stock has a market cap of $4.90 billion, a P/E ratio of 79.81 and a beta of 1.95. Energen Corporation has a 1-year low of $46.16 and a 1-year high of $64.44. The firm’s 50-day moving average is $52.85 and its 200 day moving average is $52.16.
Energen Corporation (NYSE:EGN) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.06. The business had revenue of $256.82 million for the quarter, compared to analyst estimates of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. Energen Corporation’s revenue for the quarter was up 142.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.28) EPS. Equities analysts forecast that Energen Corporation will post $0.42 EPS for the current year.
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Several institutional investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. purchased a new stake in shares of Energen Corporation during the 3rd quarter valued at $537,000. First Trust Advisors LP raised its position in shares of Energen Corporation by 25.6% during the 3rd quarter. First Trust Advisors LP now owns 125,728 shares of the oil and gas producer’s stock valued at $6,875,000 after buying an additional 25,592 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Energen Corporation during the 3rd quarter valued at $1,126,000. Shell Asset Management Co. raised its position in shares of Energen Corporation by 1,441.1% during the 3rd quarter. Shell Asset Management Co. now owns 13,284 shares of the oil and gas producer’s stock valued at $960,000 after buying an additional 12,422 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Energen Corporation during the 2nd quarter valued at $584,000. Hedge funds and other institutional investors own 94.01% 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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