Energen Corporation (EGN) is Downgraded by KLR Group to Accumulate

Energen Corporation (EGN) was Downgraded by KLR Group to ” Accumulate”. Earlier the firm had a rating of “Buy ” on the company shares. KLR Group advised their investors in a research report released on May 26, 2016.

Many Wall Street Analysts have commented on Energen Corporation. Energen Corporation was Upgraded by JP Morgan to ” Overweight” on May 13, 2016. Energen Corporation was Upgraded by Susquehanna to ” Positive” on May 11, 2016. Company shares were Upgraded by Seaport Global Securities on May 10, 2016 to ” Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $36 .

On the company’s financial health, Energen Corporation reported $-0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.67. The company had revenue of $128.22 million for the quarter, compared to analysts expectations of $123.89 million. The company’s revenue was down -42.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.09 EPS.

Energen Corporation opened for trading at $45.47 and hit $47.24 on the upside on Wednesday, eventually ending the session at $47.04, with a gain of 4.32% or 1.95 points. The heightened volatility saw the trading volume jump to 19,94,819 shares. Company has a market cap of $4,566 M.

In a different news, on Feb 25, 2016, Stephen A Snider (director) purchased 4,000 shares at $25.05 per share price. According to the SEC, on Sep 8, 2015, Magnus James Gorrie (director) purchased 1,000 shares at $49.54 per share price. On Jun 24, 2015, William G Hargett (director) purchased 500 shares at $68.88 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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