Williams Capital reissued their buy rating on shares of Energen (NYSE:EGN) in a research report released on Wednesday. Williams Capital currently has a $85.00 price target on the oil and gas producer’s stock.
Several other research firms have also commented on EGN. JPMorgan Chase & Co. cut their price objective on Energen from $68.00 to $67.00 and set a sell rating on the stock in a research report on Tuesday. Bank of America raised Energen from a neutral rating to a buy rating in a research report on Thursday, May 10th. Stifel Nicolaus set a $98.00 price objective on Energen and gave the company a buy rating in a research report on Tuesday, April 24th. Zacks Investment Research raised Energen from a hold rating to a buy rating and set a $73.00 price objective on the stock in a research report on Wednesday, April 18th. Finally, Morgan Stanley raised their price objective on Energen from $73.00 to $79.00 and gave the company an overweight rating in a research report on Friday, April 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. Energen presently has an average rating of Buy and a consensus price target of $71.32.
Get Energen alerts:Energen opened at $68.73 on Wednesday, MarketBeat reports. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.48 and a current ratio of 0.53. Energen has a 12 month low of $46.16 and a 12 month high of $71.97. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 40.71 and a beta of 1.43.
Energen (NYSE:EGN) last released its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.77 by $0.04. Energen had a return on equity of 4.95% and a net margin of 34.60%. The company had revenue of $356.17 million for the quarter, compared to analyst estimates of $335.96 million. During the same period last year, the company posted ($0.13) earnings per share. The firm’s revenue was up 47.8% compared to the same quarter last year. equities research analysts anticipate that Energen will post 3.46 EPS for the current fiscal year.
In other Energen news, Director Jonathan Z. Cohen bought 17,500 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at $1,003,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman J T. Mcmanus sold 3,116 shares of the firm’s stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $58.06, for a total value of $180,914.96. Following the sale, the chairman now owns 115,794 shares of the company’s stock, valued at $6,722,999.64. The disclosure for this sale can be found here. Insiders have sold 13,916 shares of company stock valued at $863,535 over the last 90 days. Insiders own 1.00% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan grew its stake in Energen by 2.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 30,200 shares of the oil and gas producer’s stock worth $1,898,000 after purchasing an additional 800 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Energen by 18.9% in the first quarter. OppenheimerFunds Inc. now owns 5,247 shares of the oil and gas producer’s stock worth $330,000 after purchasing an additional 834 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in Energen by 7.8% in the first quarter. Glen Harbor Capital Management LLC now owns 12,040 shares of the oil and gas producer’s stock worth $757,000 after purchasing an additional 868 shares in the last quarter. Mason Street Advisors LLC grew its stake in Energen by 1.9% in the first quarter. Mason Street Advisors LLC now owns 48,819 shares of the oil and gas producer’s stock worth $3,069,000 after purchasing an additional 933 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in Energen by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 163,242 shares of the oil and gas producer’s stock worth $9,398,000 after purchasing an additional 952 shares in the last quarter. Institutional investors and hedge funds own 92.49% of the company’s stock.
About Energen
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.
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