Energen Co. (EGN) Gains Purchase Rating from Stifel Nicolaus

Energen Co. (EGN) Gains Purchase Rating from Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Energen Co. (NYSE:EGN) in a research note issued to investors on Friday. The firm currently has a $81.00 target price on the oil and gas producer’s stock.

Several other analysts have also recently commented on the company. Barclays PLC reaffirmed a hold rating and issued a $63.00 target price on shares of Energen in a research report on Wednesday, May 24th. Williams Capital reaffirmed a buy rating and issued a $72.00 target price on shares of Energen in a research report on Monday, May 15th. Scotiabank reaffirmed a buy rating and issued a $64.00 target price on shares of Energen in a research report on Monday, May 15th. BMO Capital Markets reaffirmed a hold rating and issued a $70.00 target price on shares of Energen in a research report on Monday, May 15th. Finally, TheStreet raised Energen from a d+ rating to a c- rating in a research report on Thursday, May 4th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Energen has an average rating of Buy and an average price target of $69.00.

Energen (NYSE:EGN) opened at 55.62 on Friday. The company’s 50-day moving average price is $53.82 and its 200 day moving average price is $55.15. The stock has a market capitalization of $5.41 billion, a P/E ratio of 78.78 and a beta of 1.91. Energen has a 52-week low of $43.29 and a 52-week high of $64.43.

Energen (NYSE:EGN) last issued its earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. The business had revenue of $240.90 million during the quarter, compared to analyst estimates of $166.69 million. Energen had a negative return on equity of 4.19% and a negative net margin of 31.43%. The business’s quarterly revenue was up 87.9% on a year-over-year basis. During the same period last year, the business earned ($0.64) EPS. On average, equities research analysts anticipate that Energen will post $0.62 earnings per share for the current year.

In related news, VP Charles W. Porter sold 6,000 shares of Energen stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $54.60, for a total transaction of $327,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Richardson sold 6,500 shares of Energen stock in a transaction on Friday, March 17th. The shares were sold at an average price of $52.20, for a total value of $339,300.00. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its stake in shares of Energen by 1.4% in the first quarter. Teacher Retirement System of Texas now owns 7,761 shares of the oil and gas producer’s stock worth $423,000 after buying an additional 110 shares in the last quarter. World Asset Management Inc boosted its stake in shares of Energen by 1.8% in the first quarter. World Asset Management Inc now owns 6,588 shares of the oil and gas producer’s stock worth $359,000 after buying an additional 114 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Energen 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 in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Energen by 0.6% in the first quarter. PNC Financial Services Group Inc. now owns 47,789 shares of the oil and gas producer’s stock worth $2,601,000 after buying an additional 273 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its stake in shares of Energen by 10.8% in the first quarter. Flinton Capital Management LLC now owns 2,944 shares of the oil and gas producer’s stock worth $160,000 after buying an additional 288 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Energen Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “EGN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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