Stock Mover of the Day: Energen Corporation Sets 52-Week High; Strong Momentum for Holders

Stock Mover of the Day: Energen Corporation Sets 52 Week High; Strong Momentum for Holders

The stock of Energen Corporation (NYSE:EGN) hit a new 52-week high and has $65.79 target or 7.00% above today’s $61.49 share price. The 7 months bullish chart indicates low risk for the $6.95B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $65.79 price target is reached, the company will be worth $486.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 900,943 shares traded hands. Energen Corporation (NYSE:EGN) has risen 42.76% since April 28, 2016 and is uptrending. It has outperformed by 36.83% the S&P500.

Analysts await Energen Corporation (NYSE:EGN) to report earnings on February, 9. They expect $-0.24 earnings per share, down 188.89% or $0.51 from last year’s $0.27 per share. After $-0.22 actual earnings per share reported by Energen Corporation for the previous quarter, Wall Street now forecasts 9.09% negative EPS growth.

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. The firm earned “Positive” rating on Wednesday, May 11 by Susquehanna. The stock of Energen Corporation (NYSE:EGN) earned “Overweight” rating by KeyBanc Capital Markets on Monday, August 22. The firm has “Neutral” rating by JP Morgan given on Wednesday, December 9. The firm has “Buy” rating by Nomura given on Thursday, October 13. Citigroup maintained the stock with “Neutral” rating in Tuesday, May 17 report. The stock of Energen Corporation (NYSE:EGN) has “Buy” rating given on Friday, June 17 by Stifel Nicolaus. The stock has “Buy” rating given by Williams Capital Group on Monday, August 29. RBC Capital Markets initiated the stock with “Sector Perform” rating in Friday, October 30 report. The company was initiated on Thursday, December 3 by Nomura. The firm has “Equal-Weight” rating by Barclays Capital given on Tuesday, August 16.

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 1.09 in Q2 2016. Its down 0.07, from 1.16 in 2016Q1. The ratio fall, 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.
Tudor Inv Corp Et Al holds 0.01% of its portfolio in Energen Corporation (NYSE:EGN) for 12,343 shares. Massachusetts Ma has 909,450 shares for 0.02% of their US portfolio. Jane Street Gru Limited Liability Company holds 0% or 11,123 shares in its portfolio. Deutsche Bancshares Ag accumulated 0.01% or 252,701 shares. Synovus Finance Corp, a Georgia-based fund reported 45,822 shares. Rs Invest Mgmt Co Ltd Com holds 784,568 shares or 0.39% of its portfolio. Winfield Assoc reported 50 shares or 0% of all its holdings. Springbok Capital accumulated 82,608 shares or 0.56% of the stock. Arosa Capital Management Ltd Partnership accumulated 1.83% or 310,100 shares. Guggenheim Cap Ltd Llc owns 18,469 shares or 0% of their US portfolio. Geode Capital Management Lc holds 0.02% or 618,938 shares in its portfolio. Nuveen Asset Management Limited Liability Corp accumulated 41,542 shares or 0.01% of the stock. Teachers Advisors accumulated 822,751 shares or 0.07% of the stock. Advisory Svcs Networks Limited accumulated 0% or 46 shares. Commonwealth Of Pennsylvania School Empls Retrmt, a Pennsylvania-based fund reported 53,372 shares.

Insider Transactions: Since June 30, 2016, the stock had 0 insider buys, and 3 selling transactions for $1.92 million net activity. Another trade for 11,781 shares valued at $663,759 was made by MCMANUS J T on Wednesday, November 9.

More news for Energen Corporation (NYSE:EGN) were recently published by: Fool.com, which released: “Why Energen Corporation’s Shares Dropped in January” on February 08, 2016. Fool.com‘s article titled: “Here’s Why Shares of Energen Corporation Are Slumping Today” and published on February 12, 2016 is yet another important article.

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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