Analysts Set Energen Corporation (NYSE:EGN) Price Target at $67.05

Energen Corporation (NYSE:EGN) has earned an average recommendation of “Buy” from the twenty-eight brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and sixteen have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $67.05.

Several brokerages recently issued reports on EGN. ValuEngine upgraded shares of Energen Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Williams Capital set a $76.00 price target on shares of Energen Corporation and gave the company a “buy” rating in a research report on Tuesday. Royal Bank Of Canada set a $66.00 price objective on shares of Energen Corporation and gave the stock a “hold” rating in a research note on Thursday, April 20th. Zacks Investment Research raised shares of Energen Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Barclays PLC reissued a “hold” rating and set a $57.00 price objective (down previously from $63.00) on shares of Energen Corporation in a research note on Thursday, April 20th.

Energen Corporation (NYSE EGN) opened at 48.80 on Friday. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.44. The company has a market cap of $4.74 billion, a PE ratio of 77.22 and a beta of 1.93. The stock’s 50 day moving average is $49.89 and its 200-day moving average is $52.72.

Energen Corporation (NYSE:EGN) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The company had revenue of $256.82 million for the quarter, compared to analysts’ expectations of $222.60 million. During the same quarter in the previous year, the company earned ($0.28) earnings per share. Energen Corporation’s quarterly revenue was up 142.8% on a year-over-year basis. Equities research analysts predict that Energen Corporation will post $0.45 EPS for the current fiscal year.

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In related news, Director Alan A. Kleier acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were bought at an average price of $47.59 per share, for a total transaction of $47,590.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $71,385. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP acquired a new stake in shares of Energen Corporation during the fourth quarter worth approximately $411,000. Guggenheim Capital LLC boosted its stake in shares of Energen Corporation by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 17,899 shares of the oil and gas producer’s stock worth $1,032,000 after buying an additional 2,424 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Energen Corporation by 8.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,510 shares of the oil and gas producer’s stock worth $952,000 after buying an additional 1,280 shares in the last quarter. Norges Bank acquired a new stake in shares of Energen Corporation during the fourth quarter worth approximately $41,885,000. Finally, Macquarie Group Ltd. acquired a new stake in shares of Energen Corporation during the fourth quarter worth approximately $6,206,000. 95.64% of the stock is owned by institutional investors and hedge funds.

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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