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Seaport Global Securities Upgrades Energen (NYSE:EGN) Rating to “Buy” from “Neutral”

NewYork Energen NYSE:EGN

Energen (NYSE:EGN) Change of Rating

Seaport Global Securities upgraded Energen (NYSE:EGN)’s stock to “Buy” rating from “Neutral”. The rating change was issued to investors and clients in a note today.

The firm’s rating upgrade is well received by investors, as NYSE:EGN is right now trading 0.28% higher at $56.82 as of 4:06 PM New York time. Energen shares have [From2] 0% in the past 200 days, while the S&P500 Index has surged 6.00% for the same time period.

Out of 26 brokers covering Energen, 16 rate it a Buy, 11 indicate a Hold while 0 suggest a Sell. The highest target is $63 and the lowest is $42 according to Thomson/First Call. The 12-month mean target is $53.81, which means downside potential of 5.30% over the current price.

Institutional Ownership

Arosa Capital Management Lp had the most significant stake with ownership of 742,220 shares as of q2 2015 for 5.71% of the equity exposure. Mitchell Group Inc is another bull as the institutional investor who is having 631,040 shares of Energen or 3.58% of their equity exposure. Further, Sir Capital Management L.P. have 3.57% of their equity exposure invested in the company for 472,230 shares. The California-based fund Bocage Capital Llc disclosed it had acquired so far a stake worth about 3.37% of the institutional investor’s stock portfolio in Energen. The California-based fund Cambrian Capital Limited Partnership is also positive about the stock, possessing 130,390 shares or 2.95% of their equity exposure.

Energen (NYSE:EGN) Profile

Energen CorpEnergen Corporation is an oil and natural gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas properties and natural gas. Its operations are conducted through subsidiary, Energen Resources Corporation and occur within the Midland Basin, the Delaware Basin and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico.

Energen (NYSE:EGN) traded up 0.28% on 26 January, hitting $56.82. A total of 1.30M shares of the company’s stock traded hands. This is up from average of 1.00M shares. Energen has a 52 week low of $46.16 and a 52 week high of $64.43. The company has a market cap of $5.52B and a P/E ratio of 0.

Get the latest Energen (NYSE:EGN) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Seaport Global Securities Upgrades Energen (NYSE:EGN) Rating to “Buy” from “Neutral” appeared first on Octafinance.

This post first appeared on Octafinance – Financial News, Reports And Intell, please read the originial post: here

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Seaport Global Securities Upgrades Energen (NYSE:EGN) Rating to “Buy” from “Neutral”


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