Latest Stocks: Energen Co. (EGN) PT Set at $65.00 by Royal Bank of Canada

Latest Stocks: Energen Co. (EGN) PT Set at $65.00 by Royal Bank of Canada

Energen Co. (NYSE:EGN) has been given a $65.00 price objective by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Friday. The firm presently has a “hold” rating on the oil and gas producer’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 15.99% from the stock’s current price.

Several other brokerages have also recently commented on EGN. Stifel Nicolaus reissued a “buy” rating and set a $81.00 price target on shares of Energen in a research report on Friday, May 26th. Barclays PLC reissued a “hold” rating and set a $63.00 price target on shares of Energen in a research report on Wednesday, May 24th. BMO Capital Markets reissued a “hold” rating and set a $70.00 price target on shares of Energen in a research report on Monday, May 15th. Williams Capital reissued a “buy” rating and set a $72.00 price target on shares of Energen in a research report on Monday, May 15th. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $73.00 price target on shares of Energen in a research report on Friday. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $68.83.

Shares of Energen (EGN) opened at 56.04 on Friday. The company’s 50 day moving average price is $54.12 and its 200 day moving average price is $55.15. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 79.38 and a beta of 1.91. Energen has a one year low of $43.29 and a one year high of $64.43.

Energen (NYSE:EGN) last announced its earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.01. The company had revenue of $240.90 million during the quarter, compared to analyst estimates of $166.69 million. Energen had a negative return on equity of 4.19% and a negative net margin of 31.43%. Energen’s revenue for the quarter was up 87.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.64) earnings per share. On average, analysts expect that Energen will post $0.63 earnings per share for the current fiscal year. In other Energen news, insider John S. Richardson sold 6,500 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $52.20, for a total value of $339,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Charles W. Porter sold 6,000 shares of the stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $54.60, for a total transaction of $327,600.00. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in Energen by 57.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,214,973 shares of the oil and gas producer’s stock valued at $66,143,000 after buying an additional 441,125 shares in the last quarter. Janus Capital Management LLC boosted its position in Energen by 60.5% in the first quarter. Janus Capital Management LLC now owns 56,000 shares of the oil and gas producer’s stock valued at $3,049,000 after buying an additional 21,100 shares in the last quarter. Credit Suisse AG boosted its position in Energen by 2,708.2% in the first quarter. Credit Suisse AG now owns 2,993,073 shares of the oil and gas producer’s stock valued at $162,943,000 after buying an additional 2,886,489 shares in the last quarter. Elliott Management Corp bought a new position in Energen during the first quarter valued at $46,274,000. Finally, Jane Street Group LLC boosted its position in Energen by 242.4% in the first quarter. Jane Street Group LLC now owns 7,121 shares of the oil and gas producer’s stock valued at $388,000 after buying an additional 12,121 shares in the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors. Energen Company Profile

Related posts

Leave a Comment