Energen Corporation (EGN) is Reiterated by Barclays to Equal Weight, Raises Price Target to $ 60

Energen Corporation (EGN) was Reiterated by Barclays to “Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 60 from a previous price target of $52 . Barclays advised their investors in a research report released on Aug 16, 2016.

Many Wall Street Analysts have commented on Energen Corporation. Company shares were Reiterated by RBC Capital Mkts on Aug 10, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .Company shares were Reiterated by Wunderlich on Aug 10, 2016 to “Buy”, Firm has raised the Price Target to $ 63 from a previous price target of $60 .Company shares were Reiterated by Stifel on Aug 9, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $55 .

On the company’s financial health, Energen Corporation reported $-0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.35. The company had revenue of $105.80 million for the quarter, compared to analysts expectations of $151.34 million. The company’s revenue was down -37.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.

Energen Corporation opened for trading at $53.77 and hit $54.3 on the upside on Monday, eventually ending the session at $54.21, with a gain of 1.90% or 1.01 points. The heightened volatility saw the trading volume jump to 8,79,097 shares. Company has a market cap of $5,262 M.

In a different news, on Aug 12, 2016, J T Mcmanus (Chairman and CEO) sold 10,216 shares at $52.58 per share price. According to the SEC, on Jun 27, 2016, Magnus James Gorrie (director) purchased 1,000 shares at $47.26 per share price. On Jun 23, 2016, Alan A Kleier (director) purchased 500 shares at $48.60 per share price, according to the Form-4 filing with the securities and exchange commission.

Energen Corporation (Energen) is an oil and gas exploration and production company with headquarters in Birmingham Alabama. The Company has 1.1 billion barrels of oil-equivalent proved probable and possible reserves and another 2.2 billion barrels of oil-equivalent contingent resources. These all-domestic reserves and resources are located primarily in the Permian Basin in west Texas. Energen also has operations in the San Juan Basin in northern New Mexico.

Energen Corporation

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