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Upgrade Alert for Energen (EGN)

By Amy Schwartz

Energen (NYSE:EGN) was upgraded from Neutral to Positive at Susquehanna today. The stock closed yesterday at $42.26 on volume of 2.5 million shares, above average daily volume of 1.5 million.

Energen has overhead space with shares priced $42.26, or 38.4% below the average consensus analyst price target of $68.59. Energen shares should encounter resistance at the 200-day moving average (MA) of $44.87 and support at the 50-day MA of $35.83.

In the past 52 weeks, shares of Energen have traded between a low of $20.76 and a high of $77.12 and closed yesterday at $42.26, which is 104% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 3.6%.

Energen Corporation is a diversified energy holding company. The Company acquires, develops, explores, and produces oil, natural gas and natural gas liquids in the continental United States. The Company also purchases, distributes and sells natural gas, principally in central and north Alabama.

SmarTrend is monitoring the recent change of momentum in Energen. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Energen in search of a potential trend change.

Keywords: analyst upgrades/downgrades energen

Ticker(s): EGN