In a report released today, Drew Venker from Morgan Stanley maintained a Hold rating on Energen Corp (NYSE: EGN), with a price target of $83. The company’s shares closed yesterday at $79.63.
According to TipRanks.com, Venker has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.1% and a 32.7% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Range Resources Corp.
Currently, the analyst consensus on Energen Corp is a Moderate Buy with an average price target of $85.57.
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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 GAAP net loss of $18.49 million.
Based on the recent corporate insider activity of 90 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.
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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.
