What Will The Effects of a Seaport Global Securities Downgrade Be For Energen (NYSE:EGN) Shares?

September 8, 2018 - By Pearl Odom

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Investors sentiment increased to 1.24 in Q1 2018. Its up 0.28, from 0.96 in 2017Q4. It is positive, as 25 investors sold Energen Corporation shares while 87 reduced holdings. 60 funds opened positions while 79 raised stakes. 84.42 million shares or 2.30% less from 86.41 million shares in 2017Q4 were reported.

Michigan-based Ls Investment Advisors Ltd Company has invested 0.02% in Energen Corporation (NYSE:EGN). Tci Wealth Advisors Inc, a Arizona-based fund reported 91 shares. Huntington Comml Bank reported 0% of its portfolio in Energen Corporation (NYSE:EGN). Freestone Cap Ltd Limited Liability Company has 0.02% invested in Energen Corporation (NYSE:EGN) for 4,547 shares. Oakworth accumulated 0.25% or 16,222 shares. Papp L Roy Assocs reported 0.05% of its portfolio in Energen Corporation (NYSE:EGN). Goldentree Asset Management Lp holds 4.15% or 377,091 shares in its portfolio. Clear Harbor Asset Management has 121,681 shares. Great West Life Assurance Co Can reported 57,372 shares. State Treasurer State Of Michigan invested in 35,400 shares or 0.02% of the stock. State Of New Jersey Common Pension Fund D invested in 0.01% or 45,000 shares. Glenmede Tru Na has 0% invested in Energen Corporation (NYSE:EGN). Montgomery Invest has invested 0.11% in Energen Corporation (NYSE:EGN). State Of Wisconsin Board has 19,476 shares for 0% of their portfolio. Mitchell Grp holds 3.9% or 320,967 shares in its portfolio.

Since March 9, 2018, it had 8 insider buys, and 4 insider sales for $265.71 million activity. Another trade for 4,800 shares valued at $336,000 was made by Godsey David A on Monday, May 21. 3,116 shares were sold by MCMANUS J T, worth $180,907 on Monday, March 26. The insider LYNCH RUSSELL E. JR. sold $173,727. 17,500 shares were bought by COHEN JONATHAN Z, worth $1.00M.

Energen (NYSE:EGN) Receives a Downgrade

In a research note shared with investors today, Seaport Global Securities cut shares of Energen (NYSE:EGN) to a “Neutral” rating from the previous “Buy” rating.

Energen Corporation (NYSE:EGN) Ratings Coverage

Among 13 analysts covering Energen Corp (NYSE:EGN), 6 have Buy rating, 1 Sell and 6 Hold. Therefore 46% are positive. Energen Corp has $9900 highest and $6000 lowest target. $79.33’s average target is 10.84% above currents $71.57 stock price. Energen Corp had 19 analyst reports since March 13, 2018 according to SRatingsIntel. The firm has “Underweight” rating by JP Morgan given on Tuesday, May 22. The stock has “Buy” rating by Stephens on Tuesday, April 24. The stock of Energen Corporation (NYSE:EGN) has “Hold” rating given on Friday, July 20 by Williams Capital Group. The stock of Energen Corporation (NYSE:EGN) earned “Hold” rating by Johnson Rice on Wednesday, August 15. The company was maintained on Wednesday, April 25 by Jefferies. The rating was maintained by SunTrust with “Buy” on Monday, April 16. The company was maintained on Thursday, May 24 by Morgan Stanley. The firm earned “Buy” rating on Monday, March 19 by Jefferies. On Friday, April 13 the stock rating was maintained by RBC Capital Markets with “Hold”. The firm has “Hold” rating given on Wednesday, April 11 by BMO Capital Markets.

The stock decreased 2.53% or $1.86 during the last trading session, reaching $71.57. About 2.15 million shares traded or 48.03% up from the average. Energen Corporation (NYSE:EGN) has risen 18.98% since September 8, 2017 and is uptrending. It has outperformed by 6.41% the S&P500.

Analysts await Energen Corporation (NYSE:EGN) to report earnings on November, 14. They expect $0.81 EPS, up 305.00 % or $0.61 from last year’s $0.2 per share. EGN’s profit will be $79.02M for 22.09 P/E if the $0.81 EPS becomes a reality. After $0.77 actual EPS reported by Energen Corporation for the previous quarter, Wall Street now forecasts 5.19 % EPS growth.

Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has market cap of $6.98 billion. It has activities within the Midland Basin, the Delaware Basin, and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico. It has a 16.24 P/E ratio.

More important recent Energen Corporation (NYSE:EGN) news were published by: Seekingalpha.com which released: “Diamondback’s Home Run” on August 17, 2018, also Globenewswire.com published article titled: “MERGER ALERT – EGN, NAVG and RLJE: Levi & Korsinsky, LLP Reminds Investors of Investigations Concerning the …”, Fool.com published: “3 Top Oil Stocks to Buy in September” on September 07, 2018. More interesting news about Energen Corporation (NYSE:EGN) was released by: Cnbc.com and their article: “Stocks making the biggest moves after hours: EGN, TEVA & more” with publication date: August 14, 2018.

Energen Corporation (NYSE:EGN) Institutional Positions Chart

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