Morgan Stanley Raises Energen (EGN) Price Target to $93.00

Energen (NYSE:EGN) had its target price lifted by Morgan Stanley from $79.00 to $93.00 in a report issued on Thursday. They currently have a buy rating on the oil and gas producer’s stock.

Several other brokerages have also recently commented on EGN. JPMorgan Chase & Co. dropped their price target on Energen from $68.00 to $67.00 and set a sell rating for the company in a research report on Tuesday. Bank of America upgraded Energen from a neutral rating to a buy rating in a research report on Thursday, May 10th. Williams Capital reiterated a buy rating and set a $85.00 price target on shares of Energen in a research report on Wednesday. Stifel Nicolaus set a $98.00 price target on Energen and gave the stock a buy rating in a research report on Tuesday, April 24th. Finally, Zacks Investment Research upgraded Energen from a hold rating to a buy rating and set a $73.00 price target for the company in a research report on Wednesday, April 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $71.95.

Shares of EGN opened at $67.34 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.53 and a quick ratio of 0.48. Energen has a one year low of $46.16 and a one year high of $71.97. The company has a market cap of $6.70 billion, a P/E ratio of 89.79 and a beta of 1.43.



Energen (NYSE:EGN) last issued its quarterly earnings results on Tuesday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $356.17 million during the quarter, compared to analysts’ expectations of $335.96 million. During the same period in the previous year, the business earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 47.8% on a year-over-year basis. equities analysts predict that Energen will post 3.46 EPS for the current year.

In other news, insider David A. Godsey sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $57.77, for a total value of $346,620.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan Z. Cohen purchased 17,500 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was acquired at an average cost of $57.36 per share, for a total transaction of $1,003,800.00. Following the purchase, the director now owns 17,500 shares in the company, valued at $1,003,800. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 13,916 shares of company stock worth $863,535. Corporate insiders own 1.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in EGN. Bank of Montreal Can lifted its stake in shares of Energen by 2,786.6% in the 4th quarter. Bank of Montreal Can now owns 49,938 shares of the oil and gas producer’s stock valued at $2,875,000 after purchasing an additional 48,208 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Energen by 4.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 465,120 shares of the oil and gas producer’s stock valued at $26,777,000 after purchasing an additional 18,853 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Energen in the 4th quarter valued at $333,000. Cerebellum GP LLC acquired a new position in shares of Energen in the 4th quarter valued at $125,000. Finally, SG Americas Securities LLC lifted its stake in shares of Energen by 711.2% in the 4th quarter. SG Americas Securities LLC now owns 41,630 shares of the oil and gas producer’s stock valued at $2,397,000 after purchasing an additional 36,498 shares during the last quarter. 92.49% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Energen (NYSE:EGN)

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