Energen Corp. (NYSE:EGN) had its price objective upped by Credit Suisse Group AG from $70.00 to $75.00 in a research report sent to investors on Tuesday morning. Credit Suisse Group AG currently has an outperform rating on the stock.
“We reiterate our Outperform rating and raise our TP to $75 (from $70) following investor meetings with Energen management last week in NYC, where we came away incrementally positive on the company’s near-term growth prospects as it prepares to complete ~60 DUC wells in 1H17. EGN is poised for a big uptick on the capital productivity front in 2017, with 98%+ working interest, long-lateral DUCs and the capital program baking in third generation completion costs but second generation production uplift.”,” the firm’s analyst wrote.
A number of other analysts have also recently commented on the company. Nomura restated a buy rating and issued a $65.00 price objective on shares of Energen Corp. in a research report on Monday, November 7th. KLR Group raised Energen Corp. from an accumulate rating to a buy rating and lifted their price target for the stock from $69.00 to $73.00 in a research note on Monday, November 7th. TheStreet lowered Energen Corp. from a hold rating to a sell rating in a research note on Thursday, November 3rd. Stephens raised Energen Corp. from an equal weight rating to an overweight rating in a research note on Friday, November 4th. Finally, Stifel Nicolaus lifted their price target on Energen Corp. from $60.00 to $67.00 and gave the stock a buy rating in a research note on Tuesday, October 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-one have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $58.86.
Shares of Energen Corp. (NYSE:EGN) opened at 58.37 on Tuesday. Energen Corp. has a 1-year low of $20.76 and a 1-year high of $61.38. The stock’s market cap is $5.67 billion. The firm has a 50-day moving average price of $55.42 and a 200-day moving average price of $51.46.
Energen Corp. (NYSE:EGN) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.04. The business earned $184.39 million during the quarter, compared to analysts’ expectations of $159.82 million. Energen Corp. had a negative return on equity of 2.70% and a negative net margin of 115.17%. The business’s revenue was down 37.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Equities analysts forecast that Energen Corp. will post ($1.35) EPS for the current year.
In other news, Chairman J T. Mcmanus sold 11,781 shares of the stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $56.34, for a total value of $663,741.54. Following the transaction, the chairman now owns 103,789 shares in the company, valued at approximately $5,847,472.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.02% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in EGN. Boston Partners boosted its stake in shares of Energen Corp. by 63.7% in the third quarter. Boston Partners now owns 8,491,220 shares of the company’s stock worth $490,114,000 after buying an additional 3,303,337 shares during the period. Prudential Financial Inc. boosted its stake in shares of Energen Corp. by 581.9% in the third quarter. Prudential Financial Inc. now owns 896,856 shares of the company’s stock worth $51,767,000 after buying an additional 765,330 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Energen Corp. by 33.3% in the third quarter. Victory Capital Management Inc. now owns 2,308,249 shares of the company’s stock worth $133,233,000 after buying an additional 576,299 shares during the period. Advisory Research Inc. purchased a new stake in shares of Energen Corp. during the second quarter worth about $20,125,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Energen Corp. during the first quarter worth about $12,056,000. 97.21% of the stock is owned by hedge funds and other institutional investors.
About Energen Corp.