Energen Corp. Received its Third Buy in a RowBy Austin Angelo
After Mizuho Securities and KeyBanc assigned a Buy rating to Energen Corp. in the last month, the company received another Buy, this time from J.P. Morgan. Analyst Michael Glick reiterated a Buy rating on Energen Corp. (NYSE: EGN) yesterday. The company’s shares opened today at $52.
According to TipRanks.com, Glick is a 5-star analyst with an average return of 18.7% and a 65.1% success rate. Glick covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp., Gulfport Energy Corp., and Oasis Petroleum Inc.
Currently, the analyst consensus on Energen Corp. is Moderate Buy and the average price target is $60.83, representing a 17.0% upside.
In a report released yesterday, Canaccord Genuity also reiterated a Buy rating on the stock with a $66 price target.
The company has a one year high of $61.98 and a one year low of $20.76. Currently, Energen Corp. has an average volume of 1.13M.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EGN in relation to earlier this year. Most recently, in September 2015, Magnus James Gorrie, a Director at EGN bought 1,000 shares for a total of $49,540.
Energen Corp. engages in the energy business. Its activities include exploration and development of oil and natural gas. It focuses on Permian Basin project of West Texas and the San Juan Basin in New Mexico. The company was founded in 1978 and is headquartered in Birmingham, AL.