Scotiabank Reaffirms Their Buy Rating on Energen Corp

By Ryan Adsit

Scotiabank analyst Peter Kissel maintained a Buy rating on Energen Corp (NYSE: EGN) yesterday and set a price target of $56. The company’s shares opened today at $49.93.

According to TipRanks.com, Kissel is ranked 0 out of 5 stars with an average return of -15.7% and a 22.4% success rate. Kissel covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, National Fuel Gas Company, and Evolution Petroleum Corp.

Currently, the analyst consensus on Energen Corp is Moderate Buy and the average price target is $64.25, representing a 28.7% upside.

In a report issued on June 20, Williams Capital also reiterated a Buy rating on the stock with a $76 price target.

Energen Corp’s market cap is currently $4.81B and has a P/E ratio of 69.75. The company has a book value ratio of 1.5246.

Based on the recent corporate insider activity of 62 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 March 2017, Charles W. Porter, the VP & CFO of EGN sold 6,000 shares for a total of $327,600.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Energen Corp. is an oil and gas exploration and production company, which engages in drilling and development of assets in the Permian Basin of west Texas. The company was founded in 1978 and is headquartered in Birmingham, AL.