Energen Corporation (EGN) is Reiterated by Nomura to Buy, Raises Price Target to $ 65

Energen Corporation (EGN) was Reiterated by Nomura to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 65 from a previous price target of $54 . Nomura advised their investors in a research report released on Oct 13, 2016.

Many Wall Street Analysts have commented on Energen Corporation. Canaccord Genuity Initiated Energen Corporation on Sep 19, 2016 to “Buy”, Price Target of the shares are set at $66.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.

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 closed down -1.1 points or -1.86% at $58.16 with 8,05,926 shares getting traded on Tuesday. Post opening the session at $58.84, the shares hit an intraday low of $57.37 and an intraday high of $59.16 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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