ValuEngine cut shares of Energen (NYSE:EGN) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.
Several other equities research analysts have also recently commented on EGN. US Capital Advisors cut Energen from an overweight rating to a hold rating in a research report on Monday, October 22nd. Zacks Investment Research cut Energen from a buy rating to a hold rating in a research report on Tuesday, October 16th. Williams Capital cut Energen from a buy rating to a hold rating and set a $68.00 price objective on the stock. in a research report on Friday, July 20th. Royal Bank of Canada increased their price objective on Energen to $81.00 and gave the company a sector perform rating in a research report on Wednesday, August 15th. Finally, Jefferies Financial Group set a $85.00 price objective on Energen and gave the company a buy rating in a research report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $78.35.
Shares of NYSE EGN traded down $0.53 during trading on Thursday, reaching $73.47. The company had a trading volume of 587,600 shares, compared to its average volume of 1,330,136. Energen has a 12-month low of $47.81 and a 12-month high of $89.83. The stock has a market cap of $6.88 billion, a P/E ratio of 98.40 and a beta of 1.37. The company has a current ratio of 0.57, a quick ratio of 0.50 and a debt-to-equity ratio of 0.23.
Energen (NYSE:EGN) last released its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Energen had a return on equity of 6.83% and a net margin of 35.43%. The company had revenue of $339.65 million for the quarter, compared to analysts’ expectations of $336.78 million. As a group, analysts forecast that Energen will post 3.54 earnings per share for the current fiscal year.
In other Energen news, VP Russell E. Jr. Lynch sold 2,233 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $77.80, for a total value of $173,727.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Carl C. Icahn bought 100,000 shares of the stock in a transaction on Friday, August 10th. The stock was purchased at an average cost of $72.34 per share, for a total transaction of $7,234,000.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 1,353,577 shares of company stock worth $99,371,790. 1.00% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in shares of Energen by 143.0% in the first quarter. Russell Investments Group Ltd. now owns 29,562 shares of the oil and gas producer’s stock worth $1,855,000 after buying an additional 17,395 shares during the period. LPL Financial LLC raised its stake in shares of Energen by 26.9% in the first quarter. LPL Financial LLC now owns 5,772 shares of the oil and gas producer’s stock worth $363,000 after buying an additional 1,224 shares during the period. Legal & General Group Plc raised its stake in shares of Energen by 3.7% in the first quarter. Legal & General Group Plc now owns 127,410 shares of the oil and gas producer’s stock worth $8,009,000 after buying an additional 4,505 shares during the period. Principal Financial Group Inc. raised its stake in shares of Energen by 2.5% in the first quarter. Principal Financial Group Inc. now owns 423,854 shares of the oil and gas producer’s stock worth $26,643,000 after buying an additional 10,518 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Energen by 7.7% in the first quarter. Allianz Asset Management GmbH now owns 180,029 shares of the oil and gas producer’s stock worth $11,317,000 after buying an additional 12,908 shares during the period. 93.14% of the stock is currently owned by institutional investors.
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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