Energen (EGN) Cut to C+ at TheStreet

TheStreet downgraded shares of Energen (NYSE:EGN) from a b- rating to a c+ rating in a research note published on Thursday.

Other equities research analysts have also recently issued reports about the stock. Johnson Rice cut shares of Energen from an accumulate rating to a hold rating in a research report on Wednesday, August 15th. Williams Capital reissued a hold rating and set a $87.00 price target on shares of Energen in a research report on Tuesday, August 7th. Argus cut shares of Energen from a buy rating to a hold rating in a research report on Tuesday, September 11th. ValuEngine cut shares of Energen from a buy rating to a hold rating in a research report on Monday, August 13th. Finally, US Capital Advisors cut shares of Energen from an overweight rating to a hold rating in a research report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $78.35.

EGN traded up $2.10 during trading on Thursday, hitting $73.04. The company had a trading volume of 1,030,179 shares, compared to its average volume of 1,047,796. The stock has a market capitalization of $7.24 billion, a P/E ratio of 97.39 and a beta of 1.50. Energen has a one year low of $47.81 and a one year high of $89.83. The company has a current ratio of 0.43, a quick ratio of 0.50 and a debt-to-equity ratio of 0.26.

Energen (NYSE:EGN) last issued its quarterly earnings results on Tuesday, November 6th. The oil and gas producer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.85 by $0.11. Energen had a net margin of 31.37% and a return on equity of 8.70%. The firm had revenue of $380.88 million for the quarter, compared to analysts’ expectations of $364.64 million. On average, equities research analysts predict that Energen will post 3.56 EPS for the current fiscal year.

In other news, insider Carl C. Icahn acquired 200,000 shares of the stock in a transaction dated Monday, August 13th. The shares were bought at an average cost of $71.57 per share, for a total transaction of $14,314,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Russell E. Jr. Lynch sold 2,233 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $77.80, for a total transaction of $173,727.40. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Bray Capital Advisors acquired a new position in Energen in the 2nd quarter valued at about $124,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Energen in the 2nd quarter valued at about $196,000. Bank of Montreal Can grew its stake in Energen by 108.6% in the 3rd quarter. Bank of Montreal Can now owns 2,309 shares of the oil and gas producer’s stock valued at $198,000 after buying an additional 29,176 shares during the last quarter. Lourd Capital LLC acquired a new position in Energen in the 3rd quarter valued at about $200,000. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Energen in the 2nd quarter valued at about $203,000. Institutional investors own 92.66% of the company’s stock.

Energen Company Profile

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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Analyst Recommendations for Energen (NYSE:EGN)

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