Energen Corporation (EGN) : Analyst Rating Update

Energen Corporation (EGN) : The consensus on Energen Corporation (EGN) based on 17 analyst recommendation on the company stock is 1.71, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 10 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Energen Corporation (EGN) has been rated by 17 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $63 and the lowest price target forecast is $48. The average forecast of all the analysts is $54.82 and the expected standard deviation is $4.72.

Energen Corporation (NYSE:EGN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.52 and $45.04 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $47.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $47.39, notching a gain of 3.47% for the day. The total traded volume was 1,944,096 . The stock had closed at $45.80 on the previous day.

Also, Barclays initiates coverage on Energen Corporation (NYSE:EGN). The rating major has initiated the coverage with equal-weight rating on the shares. The Analysts at Barclays announces a current price target of $50 per share. The rating by the firm was issued on June 21, 2016. The company shares have dropped -25.42% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $64.17 and the one year low was seen on Feb 12, 2016. The 50-Day Moving Average price is $46.89 and the 200 Day Moving Average price is recorded at $37.85.

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.

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