In a report released today, Drew Venker from Morgan Stanley maintained a Hold rating on Energen Corp (NYSE: EGN), with a price target of $86. The company’s shares closed yesterday at $85.68, close to its 52-week high of $86.81.
According to TipRanks.com, Venker is a 1-star analyst with an average return of -3.9% and a 48.9% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Occidental Petroleum.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Energen Corp with a $88.44 average price target, representing a 3.2% upside. In a report issued on September 11, Argus Research also downgraded the stock to Hold.
.
See today’s analyst top recommended stocks >>
Based on Energen Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $68.27 million. In comparison, last year the company had a net profit of $29.48 million.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EGN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Energen Corp. is an oil and gas exploration and production company. It engages in drilling and development of assets in the Permian Basin of west Texas. The company focuses on return-driven growth from the drilling and development of multiple horizontal shale formations in the Delaware and Midland basins using its Generation 3 frac design.
