Price Action To Observe: Could Energen Corporation Rise Even More? The Stock Had Another Big Increase Today

Price Action To Observe: Could Energen Corporation Rise Even More? The Stock Had Another Big Increase Today

The stock of Energen Corporation (NYSE:EGN) is a huge mover today! About 255,262 shares traded hands. Energen Corporation (NYSE:EGN) has risen 40.78% since April 13, 2016 and is uptrending. It has outperformed by 36.86% the S&P500.
The move comes after 6 months positive chart setup for the $5.65 billion company. It was reported on Nov, 15 by Barchart.com. We have $96.88 PT which if reached, will make NYSE:EGN worth $3.79 billion more.

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. Susquehanna initiated Energen Corporation (NYSE:EGN) on Friday, October 30 with “Neutral” rating. As per Monday, November 7, the company rating was upgraded by KLR Group. BMO Capital Markets downgraded Energen Corporation (NYSE:EGN) on Tuesday, December 22 to “Market Perform” rating. Topeka Capital Markets maintained the shares of EGN in a report on Thursday, February 18 with “Buy” rating. The rating was maintained by Citigroup with “Neutral” on Friday, August 21. On Friday, June 17 the stock rating was initiated by Stifel Nicolaus with “Buy”. The rating was initiated by JP Morgan with “Neutral” on Wednesday, December 9. Citigroup maintained the stock with “Neutral” rating in Monday, September 14 report. The stock has “Buy” rating given by Sterne Agee CRT on Tuesday, February 16. On Thursday, October 6 the stock rating was maintained by Wunderlich with “Buy”.

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 1.16 in Q2 2016. Its down 0.07, from 1.23 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.
Engineers Gate Manager Ltd Partnership holds 6,908 shares or 0.02% of its portfolio. New York Life Tru last reported 16 shares in the company. Envestnet Asset Mngmt Inc accumulated 2,995 shares or 0% of the stock. Victory Mgmt, a Ohio-based fund reported 1.73 million shares. Hancock Holdg owns 256,347 shares or 0.52% of their US portfolio. Los Angeles Capital And Equity Research has 0.02% invested in the company for 39,470 shares. Winslow Evans Crocker accumulated 44 shares or 0% of the stock. The Massachusetts-based Bogle Inv Mngmt Limited Partnership De has invested 0.12% in Energen Corporation (NYSE:EGN). Moreover, Omers Administration has 0.03% invested in Energen Corporation (NYSE:EGN) for 27,100 shares. The Arizona-based Papp L Roy & Assoc has invested 0.06% in Energen Corporation (NYSE:EGN). State Board Of Administration Of Florida Retirement Systems owns 138,828 shares or 0.02% of their US portfolio. State Of Wisconsin Inv Board accumulated 64,277 shares or 0.01% of the stock. Bnp Paribas Invest Prtn Sa holds 26,688 shares or 0.01% of its portfolio. Allianz Asset Management Ag holds 0.01% or 251,076 shares in its portfolio. Deutsche National Bank Ag has 0.01% invested in the company for 252,701 shares.

Insider Transactions: Since June 30, 2016, the stock had 0 insider buys, and 3 selling transactions for $1.92 million net activity. $663,759 worth of Energen Corporation (NYSE:EGN) shares were sold by MCMANUS J T.

More recent Energen Corporation (NYSE:EGN) news were published by: Fool.com which released: “Energen Corporation Has What Other Oil Companies Can Only Dream Of” on September 30, 2015. Also Fool.com published the news titled: “Why Energen Corporation’s Shares Dropped in January” on February 08, 2016. Fool.com‘s news article titled: “Here’s Why Shares of Energen Corporation Are Slumping Today” with publication date: February 12, 2016 was also an interesting one.

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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