Energen Corporation (EGN) is Initiated by Canaccord Genuity to Buy, Price Target at $66

Energen Corporation (EGN) was Initiated by Canaccord Genuity to “Buy” and the brokerage firm has set the Price Target at $66. Canaccord Genuity advised their investors in a research report released on Sep 19, 2016.

Many Wall Street Analysts have commented on Energen Corporation. Energen Corporation was Upgraded by Tudor Pickering to ” Buy” on Sep 16, 2016. Williams Capital Group Initiated Energen Corporation on Aug 29, 2016 to “Buy”, Price Target of the shares are set at $68.Company shares were Reiterated by Barclays on Aug 16, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 60 from a previous price target of $52 .

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 $51.55 and hit $53.04 on the upside on Friday, eventually ending the session at $52.83, with a gain of 0.99% or 0.52 points. The heightened volatility saw the trading volume jump to 1,674,157 shares. Company has a market cap of $5,128 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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