KeyBanc Believes EGN Still Has Room to Grow

In a report issued on October 6, Chris Stevens from KeyBanc reiterated a Buy rating on Energen Corp. (NYSE: EGN), with a price target of $66. The company’s shares closed last Friday at $57.13, close to its 52-week high of $61.98.

According to, Stevens is a 3-star analyst with an average return of 68.8% and a 100.0% success rate. Stevens covers the Basic Materials sector, focusing on stocks such as Rosetta Resources Inc., Bill Barrett Corp, and Parsley Energy.

Currently, the analyst consensus on Energen Corp. is Moderate Buy and the average price target is $59.40, representing a 4.0% upside.

In a report issued on October 3, Nomura Holdings also reiterated a Buy rating on the stock with a $54 price target.

Based on Energen Corp.’s latest earnings report from June 30, the company posted quarterly revenue of $105.8M and quarterly net profit of $36.76M. In comparison, last year the company earned revenue of $295.6M and had a net profit of -$227.9M.

Based on the recent corporate insider activity of 58 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. Last month, Magnus James Gorrie, a a Director at EGN bought 1,000 shares for a total of $49,540.

Energen Corp. is an oil and gas exploration and production company focused on the drilling and development of its assets in the Permian Basin of west Texas. The company focuses on increasing production and adding proved reserves through the development of oil, natural gas liquids and natural gas properties. It explores for and develops new reservoirs. The company’s principal subsidiary is Energen Resources Corp. Energen was founded in 1978 and is headquartered in Birmingham, AL.