Energen Corp. (NYSE:EGN) – KeyCorp boosted their Q4 2017 earnings per share (EPS) estimates for Energen Corp. in a research report issued to clients and investors on Thursday. KeyCorp analyst C. Stevens now expects that the firm will post earnings per share of $0.06 for the quarter, up from their previous forecast of $0.05. KeyCorp has a “Overweight” rating and a $66.00 price target on the stock. KeyCorp also issued estimates for Energen Corp.’s FY2018 earnings at $0.70 EPS.
Energen Corp. (NYSE:EGN) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.09. The firm had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. The company’s revenue for the quarter was down 37.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share.
A number of other analysts have also recently commented on the stock. Tudor Pickering upgraded shares of Energen Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Zacks Investment Research upgraded shares of Energen Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, August 5th. Credit Suisse Group AG increased their price target on shares of Energen Corp. from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, June 21st. Barclays PLC started coverage on shares of Energen Corp. in a research note on Tuesday, June 21st. They issued an “equal weight” rating and a $50.00 price target for the company. Finally, Stifel Nicolaus increased their price target on shares of Energen Corp. from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $56.39.
Energen Corp. (NYSE:EGN) opened at 57.13 on Friday. The firm has a 50-day moving average of $55.95 and a 200-day moving average of $47.55. Energen Corp. has a 52-week low of $20.76 and a 52-week high of $61.98. The firm’s market capitalization is $5.55 billion.
Several hedge funds and other institutional investors have recently modified their holdings of EGN. Prudential Financial Inc. increased its position in shares of Energen Corp. by 31.4% in the first quarter. Prudential Financial Inc. now owns 63,199 shares of the company’s stock worth $2,312,000 after buying an additional 15,110 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Energen Corp. by 3,371.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 520,790 shares of the company’s stock worth $19,056,000 after buying an additional 505,790 shares during the period. Bogle Investment Management L P DE purchased a new position in shares of Energen Corp. during the first quarter worth about $1,484,000. HBK Investments L P increased its position in shares of Energen Corp. by 125.5% in the first quarter. HBK Investments L P now owns 100,289 shares of the company’s stock worth $3,670,000 after buying an additional 55,815 shares during the period. Finally, Elliott Management Corp purchased a new position in shares of Energen Corp. during the first quarter worth about $6,037,000. Hedge funds and other institutional investors own 93.37% of the company’s stock.
In related news, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $52.58, for a total transaction of $537,157.28. Following the sale, the chairman now directly owns 103,789 shares in the company, valued at approximately $5,457,225.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.02% of the company’s stock.
About Energen Corp.
Energen Corporation (Energen) is an oil and natural gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas properties and natural gas in the Permian Basin in west Texas and the San Juan Basin in New Mexico. It is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin.
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