Energen (NYSE:EGN) has been given a $79.00 price objective by research analysts at Williams Capital in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the oil and gas producer’s stock. Williams Capital’s target price points to a potential upside of 24.06% from the stock’s current price.
EGN has been the subject of several other research reports. Mizuho set a $72.00 price target on Energen and gave the company a “buy” rating in a research note on Tuesday, January 16th. SunTrust Banks set a $85.00 price target on Energen and gave the company a “buy” rating in a research note on Monday, April 16th. Morgan Stanley lifted their price target on Energen from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, April 20th. Zacks Investment Research upgraded Energen from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Tuesday, May 1st. Finally, Stifel Nicolaus set a $99.00 price target on Energen and gave the company a “buy” rating in a research note on Wednesday, March 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $70.82.
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Shares of Energen stock opened at $63.68 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. Energen has a twelve month low of $46.16 and a twelve month high of $69.24. The stock has a market capitalization of $6.19 billion, a P/E ratio of 84.91 and a beta of 1.43.
Energen (NYSE:EGN) last announced its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.22. Energen had a return on equity of 2.27% and a net margin of 30.12%. The firm had revenue of $271.80 million during the quarter, compared to analyst estimates of $303.95 million. During the same quarter in the previous year, the business earned ($0.27) EPS. Energen’s revenue for the quarter was up 137.3% compared to the same quarter last year. analysts forecast that Energen will post 3.47 earnings per share for the current fiscal year.
In other news, Director Jonathan Z. Cohen acquired 17,500 shares of the business’s stock in a transaction on Friday, March 9th. The stock was bought at an average cost of $57.36 per share, for a total transaction of $1,003,800.00. Following the purchase, the director now owns 17,500 shares in the company, valued at $1,003,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Godsey sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $57.77, for a total value of $346,620.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of EGN. Dimensional Fund Advisors LP grew its position in shares of Energen by 5.1% in the third quarter. Dimensional Fund Advisors LP now owns 507,751 shares of the oil and gas producer’s stock valued at $27,763,000 after purchasing an additional 24,713 shares in the last quarter. Bank of Montreal Can grew its position in shares of Energen by 2,786.6% in the fourth quarter. Bank of Montreal Can now owns 49,938 shares of the oil and gas producer’s stock valued at $2,875,000 after purchasing an additional 48,208 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Energen by 4.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 465,120 shares of the oil and gas producer’s stock valued at $26,777,000 after purchasing an additional 18,853 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in shares of Energen in the fourth quarter valued at approximately $426,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Energen in the fourth quarter valued at approximately $333,000. Institutional investors and hedge funds own 95.02% 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.