Energen Corporation (EGN) Shares are Up 2.62%

Energen Corporation (EGN) : Traders are bullish on Energen Corporation (EGN) as it has outperformed the S&P 500 by a wide margin of 6.96% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.57%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.62% in the last 1 week, and is up 8.06% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 9.6% and the 50-Day Moving Average is 11.04%. Energen Corporation (NYSE:EGN): stock turned positive on Friday. Though the stock opened at $53.14, the bulls momentum made the stock top out at $53.37 level for the day. The stock recorded a low of $52.43 and closed the trading day at $53.2, in the green by 0.53%. The total traded volume for the day was 813,756. The stock had closed at $52.92 in the previous days trading.


The company Insiders own 1.02% of Energen Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -11.13% . Institutional Investors own 90.29% of Energen Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -11.13%. Also, In a research note released to the investors, Citigroup maintains its rating on Energen Corporation (NYSE:EGN).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Citigroup raises the new price target from $49 per share to $54 per share. The rating by the firm was issued on August 11, 2016.

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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