Trade Report: Today, Stifel Nicolaus Increases Energen Corp. (EGN) Price Target to $67.00

Today, Stifel Nicolaus Increases Energen Corp. (EGN) Price Target to $67.00

Energen Corp. (NYSE:EGN) had its price target hoisted by research analysts at Stifel Nicolaus to $67.00 in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 17.92% from the company’s previous close.

EGN has been the subject of several other research reports. Canaccord Genuity started coverage on Energen Corp. in a research note on Monday, September 19th. They set a “buy” rating and a $66.00 price target for the company. Mizuho started coverage on shares of Energen Corp. in a research note on Wednesday, October 5th. They issued a “buy” rating and a $70.00 target price for the company. TheStreet raised shares of Energen Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Zacks Investment Research raised shares of Energen Corp. from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, July 6th. Finally, Wunderlich boosted their target price on shares of Energen Corp. from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.43.

Shares of Energen Corp. (NYSE:EGN) traded up 0.07% during mid-day trading on Tuesday, hitting $56.86. 176,198 shares of the stock traded hands. The company’s market cap is $5.52 billion. Energen Corp. has a one year low of $20.76 and a one year high of $61.98. The stock has a 50 day moving average price of $56.28 and a 200-day moving average price of $48.67.

Energen Corp. (NYSE:EGN) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.09. The business earned $105.80 million during the quarter, compared to the consensus estimate of $144.31 million. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The business’s revenue was down 37.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. On average, analysts forecast that Energen Corp. will post ($1.37) earnings per share for the current fiscal year.

In related news, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total transaction of $537,157.28. Following the sale, the chairman now directly owns 103,789 shares of the company’s stock, valued at approximately $5,457,225.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of EGN. Prudential Financial Inc. increased its position in shares of Energen Corp. by 31.4% in the first quarter. Prudential Financial Inc. now owns 63,199 shares of the company’s stock worth $2,312,000 after buying an additional 15,110 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Energen Corp. by 32.8% in the first quarter. Franklin Resources Inc. now owns 931,207 shares of the company’s stock worth $34,073,000 after buying an additional 230,207 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Energen Corp. by 21.3% in the first quarter. BlackRock Fund Advisors now owns 3,362,166 shares of the company’s stock worth $123,022,000 after buying an additional 589,613 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Energen Corp. by 18.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,772,451 shares of the company’s stock worth $101,444,000 after buying an additional 423,441 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Energen Corp. by 52.6% in the first quarter. M&T Bank Corp now owns 9,252 shares of the company’s stock worth $337,000 after buying an additional 3,188 shares during the last quarter. Hedge funds and other institutional investors own 93.34% of the company’s stock.

About Energen Corp.

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