Energen Corp. (NYSE:EGN) was upgraded by equities researchers at ISI Group from a “neutral” rating to a “strong-buy” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $89.00 target price on the stock. ISI Group’s price objective would suggest a potential upside of 14.41% from the stock’s previous close.
Energen Corp. (NYSE:EGN) traded up 2.22% during mid-day trading on Tuesday, hitting $79.52. The stock had a trading volume of 556,181 shares. Energen Corp. has a one year low of $41.38 and a one year high of $89.92. The stock’s 50-day moving average is $79.20 and its 200-day moving average is $62.97. The company has a market cap of $5.753 billion and a P/E ratio of 30.64.
Energen Corp. (NYSE:EGN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.47 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.61 by $0.14. The company had revenue of $320.40 million for the quarter, compared to the consensus estimate of $426.10 million. During the same quarter last year, the company posted $0.44 earnings per share. Energen Corp.’s revenue was up 15.9% compared to the same quarter last year. On average, analysts predict that Energen Corp. will post $3.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.58 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Wednesday, November 13th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee raised their price target on shares of Energen Corp. from $88.00 to $98.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Topeka Capital Markets raised their price target on shares of Energen Corp. from $85.00 to $92.00 in a research note to investors on Wednesday, October 23rd. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Energen Corp. from $95.00 to $102.00 in a research note to investors on Wednesday, October 16th. They now have a “positive” rating on the stock. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $83.36.
Energen Corporation is a diversified energy holding company engaged in the development, acquisition, exploration and production of oil, natural gas and natural gas liquids in the continental United States and in the purchase, distribution and sale of natural gas in central and north Alabama.
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