Notable Price Action: Energen Corporation Increases Again; Strong Momentum for Buyers

Notable Price Action: Energen Corporation Increases Again; Strong Momentum for Buyers

The stock of Energen Corporation (NYSE:EGN) is a huge mover today! About 1.01M shares traded hands or 1.00% up from the average. Energen Corporation (NYSE:EGN) has risen 19.53% since April 27, 2016 and is uptrending. It has outperformed by 14.31% the S&P500.
The move comes after 7 months positive chart setup for the $5.73B company. It was reported on Nov, 30 by Barchart.com. We have $66.42 PT which if reached, will make NYSE:EGN worth $515.70 million more.

Analysts await Energen Corporation (NYSE:EGN) to report earnings on February, 9. They expect $-0.24 EPS, down 188.89% or $0.51 from last year’s $0.27 per share. After $-0.22 actual EPS reported by Energen Corporation for the previous quarter, Wall Street now forecasts 9.09% negative EPS growth.

Energen Corporation (NYSE:EGN) Ratings Coverage

Out of 28 analysts covering Energen Corporation (NYSE:EGN), 19 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 68% are positive. Energen Corporation has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, February 18 by Topeka Capital Markets. The rating was upgraded by JP Morgan on Friday, May 13 to “Overweight”. Topeka Capital Markets maintained the shares of EGN in a report on Friday, May 6 with “Buy” rating. The stock has “Accumulate” rating given by Johnson Rice on Tuesday, February 16. The stock has “Neutral” rating given by Citigroup on Thursday, April 7. KLR Group downgraded the stock to “Accumulate” rating in Thursday, May 26 report. The company was maintained on Tuesday, May 17 by Citigroup. On Tuesday, December 22 the stock rating was downgraded by BMO Capital Markets to “Market Perform”. Topeka Capital Markets maintained the stock with “Buy” rating in Thursday, October 15 report. Deutsche Bank maintained the shares of EGN in a report on Wednesday, August 10 with “Hold” rating.

According to Zacks Investment Research, “ENERGEN CORP is a diversified energy holding company engaged in natural gas distribution and oil and natural gas exploration and production activities. The Corporation’s utility subsidiary, Alabama Gas Corporation, is the largest natural gas distribution utility in the State of Alabama. The Corporation’s oil and gas exploration and production activities are conducted by its subsidiary, Taurus Exploration, Inc. and its subsidiary.”

Insitutional Activity: The institutional sentiment decreased to 1.09 in Q2 2016. Its down 0.07, from 1.16 in 2016Q1. The ratio dropped, as 36 funds sold all Energen Corporation shares owned while 80 reduced positions. 41 funds bought stakes while 94 increased positions. They now own 90.11 million shares or 2.67% less from 92.59 million shares in 2016Q1.
Voya Inv Ltd has invested 0% of its portfolio in Energen Corporation (NYSE:EGN). Graham Capital Mngmt Limited Partnership last reported 357,475 shares in the company. Tci Wealth accumulated 136 shares or 0% of the stock. Van Eck Associate holds 0% of its portfolio in Energen Corporation (NYSE:EGN) for 9,721 shares. Aqr Management Limited Liability Co accumulated 0.05% or 583,894 shares. Los Angeles Cap Mngmt And Equity Rech last reported 0.02% of its portfolio in the stock. Ny State Teachers Retirement holds 0.02% or 140,436 shares in its portfolio. Moreover, Bnp Paribas Arbitrage Sa has 0.01% invested in Energen Corporation (NYSE:EGN) for 43,171 shares. Commercial Bank Of Ny Mellon accumulated 1.66 million shares or 0.02% of the stock. Vollero Beach Cap Prns Ltd Limited Liability Company has 98,087 shares for 1.08% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 2,634 shares in the company. Moreover, State Of Wisconsin Board has 0.01% invested in Energen Corporation (NYSE:EGN) for 64,277 shares. Utah Retirement Sys has 0.02% invested in the company for 17,622 shares. The Illinois-based Chicago Equity Prns Ltd Company has invested 0.04% in Energen Corporation (NYSE:EGN). Putnam Investments, a Massachusetts-based fund reported 651,731 shares.

Insider Transactions: Since June 30, 2016, the stock had 0 insider buys, and 3 selling transactions for $1.92 million net activity. On Wednesday, November 9 the insider MCMANUS J T sold $663,759.

More news for Energen Corporation (NYSE:EGN) were recently published by: Fool.com, which released: “Why Energen Corporation’s Shares Dropped in January” on February 08, 2016. Fool.com‘s article titled: “Here’s Why Shares of Energen Corporation Are Slumping Today” and published on February 12, 2016 is yet another important article.

EGN Company Profile

Energen Corporation (Energen), incorporated on October 26, 1978, is an oil and natural gas exploration and production company. The Firm is engaged in the exploration, development and production of oil and natural gas properties and natural gas in the Permian Basin in west Texas and the San Juan Basin in New Mexico. The Firm is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin. All of its reserves are located in the Permian Basin in west Texas, and the San Juan Basin in New Mexico. Oil, natural gas liquids and natural gas represent approximately 60%, 20% and 20%, respectively, of Energen’s reserves. The Company’s activities are conducted through its subsidiary, Energen Resources Corporation (Energen Resources).

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