Several other equities research analysts have also recently weighed in on EGN. BMO Capital Markets restated a hold rating and set a $70.00 target price on shares of Energen in a research note on Wednesday, January 11th. Canaccord Genuity restated a buy rating and set a $72.00 target price on shares of Energen in a research note on Wednesday, January 18th. Zacks Investment Research upgraded Energen from a hold rating to a buy rating and set a $63.00 target price for the company in a research note on Tuesday, February 14th. Argus raised Energen from a hold rating to a buy rating in a research report on Friday, February 24th. Finally, Deutsche Bank AG cut their price target on Energen from $64.00 to $62.00 and set a hold rating on the stock in a research report on Tuesday, March 7th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $68.61.
Energen (NYSE:EGN) last posted its earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by $0.01. The business had revenue of $240.90 million for the quarter, compared to analysts’ expectations of $166.69 million. Energen had a negative return on equity of 4.19% and a negative net margin of 31.43%. Energen’s revenue for the quarter was up 87.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.64) EPS.
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In related news, insider John S. Richardson sold 6,500 shares of the company’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $52.20, for a total value of $339,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Charles W. Porter sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $54.60, for a total value of $327,600.00. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in EGN. DekaBank Deutsche Girozentrale acquired a new position in Energen during the third quarter valued at approximately $115,000. Flinton Capital Management LLC purchased a new stake in shares of Energen during the fourth quarter valued at approximately $153,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Energen by 14.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,013 shares of the oil and gas producer’s stock valued at $174,000 after buying an additional 379 shares in the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of Energen during the first quarter valued at approximately $200,000. Finally, Investment Counselors of Maryland LLC raised its stake in shares of Energen by 22.6% in the first quarter. Investment Counselors of Maryland LLC now owns 3,711 shares of the oil and gas producer’s stock valued at $202,000 after buying an additional 685 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.
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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