Energen Corporation (NYSE:EGN) Price Target & New Coverage by Credit Suisse

In analysts note shared with investors and clients today, Credit Suisse analysts has initiated Energen Corporation (NYSE:EGN) coverage with “Outperform” rating, and a $43.00 price target.

Out of 27 brokers covering Energen Corporation, 15 rate it a Buy, 12 indicate a Hold while 0 suggest a Sell. The highest target is $63 and the lowest is $22 according to Thomson/First Call. The 12-month mean target is $38.07, which means upside potential of 2.20% over the current price.

NYSE:EGN Price Chart & Trend

The stock price of Energen Corporation plummeted 49.45% over the last 200 days, and is in strong down trend. In the last 50 and 100 days, Energen Corporation is up 33.35% and down 37.7%, respectively. Our stocks momentum model is shown on the price chart below.

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Institutional Ownership

Encompass Capital Advisors Llc had the most significant stake with ownership of 763,769 shares as of q2 2015 for 11.03% of the US long equity exposure. Mitchell Group Inc is another bull as the investment professional who is having 612,640 shares of Energen Corporation or 4.36% of their US long equity exposure. Moreover, Vollero Beach Capital Partners Llc have 3.47% of their US long equity exposure invested in the company for 397,121 shares. The Maryland-based fund Corbyn Investment Management Inc Md revealed it had purchased a stake worth about 2.7% of the investment professional’s stock portfolio in Energen Corporation. The Massachusetts-based fund Grt Capital Partners L.L.C. is also positive about the stock, possessing 180,601 shares or 2.67% of their US long equity exposure.Over the last 6 months, Energen Corporation NYSE:EGN has seen 1 insider buy, and 0 insider sales. The net result was for 1 transaction, worth $100,231.

Energen Corporation (NYSE:EGN) Profile

Energen Corporation (Energen) is an oil and gas exploration and production company with headquarters in Birmingham, Alabama. The Company has 1.1 billion barrels of oil-equivalent proved, probable, and possible reserves and another 2.2 billion barrels of oil-equivalent contingent resources. These all-domestic reserves and resources are located primarily in the Permian Basin in west Texas.

Energen Corporation (NYSE:EGN) traded up 1.92% on 1 April, hitting $37.25. A total of 1.94M shares of the company’s stock traded hands. This is down from average of 2.42M shares. Energen Corporation has a 52 week low of $20.76 and a 52 week high of $77.12. The company has a market cap of $3.68B and a P/E ratio of 0.

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