Energen (EGN) Downgraded to Underweight at J P Morgan Chase & Co

J P Morgan Chase & Co lowered shares of Energen (NYSE:EGN) from a neutral rating to an underweight rating in a research note released on Friday morning. J P Morgan Chase & Co currently has $57.00 price objective on the oil and gas producer’s stock.

EGN has been the subject of a number of other reports. Credit Suisse Group began coverage on shares of Energen in a research report on Monday, December 11th. They set a neutral rating and a $60.00 price target for the company. Mizuho restated a buy rating and issued a $69.00 price objective on shares of Energen in a report on Friday, September 29th. Zacks Investment Research upgraded shares of Energen from a hold rating to a buy rating and set a $60.00 price objective for the company in a report on Thursday, October 12th. Stifel Nicolaus set a $80.00 price objective on shares of Energen and gave the company a buy rating in a report on Thursday, October 5th. Finally, Wells Fargo & Company started coverage on shares of Energen in a report on Friday, December 1st. They issued a hold rating for the company. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $65.09.

Shares of Energen (NYSE EGN) traded down $1.69 on Friday, hitting $52.27. 1,556,614 shares of the company’s stock were exchanged, compared to its average volume of 595,432. Energen has a 1-year low of $46.16 and a 1-year high of $60.21. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24.

Energen (NYSE:EGN) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. The business had revenue of $191.50 million during the quarter, compared to analysts’ expectations of $242.81 million. During the same period last year, the business earned ($0.22) earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. equities research analysts predict that Energen will post 0.48 earnings per share for the current fiscal year.

In related news, General Counsel J David Woodruff, Jr. sold 2,500 shares of Energen stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $57.01, for a total value of $142,525.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC lifted its stake in Energen by 2.3% in the second quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock worth $264,000 after acquiring an additional 119 shares during the last quarter. Utah Retirement Systems lifted its stake in Energen by 1.1% in the second quarter. Utah Retirement Systems now owns 17,822 shares of the oil and gas producer’s stock worth $880,000 after acquiring an additional 200 shares during the last quarter. Comerica Bank lifted its stake in Energen by 0.4% in the second quarter. Comerica Bank now owns 81,766 shares of the oil and gas producer’s stock worth $4,191,000 after acquiring an additional 338 shares during the last quarter. Suntrust Banks Inc. lifted its stake in Energen by 1.5% in the second quarter. Suntrust Banks Inc. now owns 26,481 shares of the oil and gas producer’s stock worth $1,306,000 after acquiring an additional 393 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in Energen by 0.8% in the second quarter. Synovus Financial Corp now owns 52,267 shares of the oil and gas producer’s stock worth $2,581,000 after acquiring an additional 408 shares during the last quarter. Institutional investors own 96.11% of the company’s stock.

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About Energen

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.

Analyst Recommendations for Energen (NYSE:EGN)

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