Energen Corporation (NYSE:EGN) – SunTrust Banks reduced their FY2017 earnings per share (EPS) estimates for shares of Energen Corporation in a note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings of $0.36 per share for the year, down from their previous forecast of $0.52. SunTrust Banks also issued estimates for Energen Corporation’s FY2018 earnings at $1.57 EPS.
Energen Corporation (NYSE:EGN) last released its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $256.82 million during the quarter, compared to the consensus estimate of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. Energen Corporation’s revenue was up 142.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.28) EPS.
A number of other brokerages have also recently issued reports on EGN. Credit Suisse Group restated an “outperform” rating and issued a $73.00 target price on shares of Energen Corporation in a report on Friday, June 2nd. Barclays PLC restated a “hold” rating and issued a $63.00 target price on shares of Energen Corporation in a report on Wednesday, May 24th. Royal Bank Of Canada set a $65.00 target price on Energen Corporation and gave the stock a “hold” rating in a report on Friday, June 2nd. Stifel Nicolaus restated a “buy” rating and issued a $81.00 target price on shares of Energen Corporation in a report on Friday, May 26th. Finally, Wolfe Research began coverage on Energen Corporation in a report on Thursday, June 15th. They issued a “market perform” rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $66.59.
Energen Corporation (NYSE:EGN) traded up 0.92% during trading on Friday, reaching $49.25. The company’s stock had a trading volume of 187,744 shares. Energen Corporation has a 1-year low of $46.16 and a 1-year high of $64.44. The company has a market capitalization of $4.79 billion, a P/E ratio of 77.93 and a beta of 1.93. The company’s 50-day moving average is $49.89 and its 200-day moving average is $52.72.
In other news, Director Alan A. Kleier acquired 1,000 shares of Energen Corporation stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average price of $47.59 per share, with a total value of $47,590.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at $71,385. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Energen Corporation by 5,491.7% in the first quarter. BlackRock Inc. now owns 9,266,613 shares of the oil and gas producer’s stock worth $504,475,000 after buying an additional 9,100,891 shares during the last quarter. Vanguard Group Inc. boosted its stake in Energen Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 9,158,242 shares of the oil and gas producer’s stock worth $498,574,000 after buying an additional 466,977 shares during the last quarter. Boston Partners boosted its stake in Energen Corporation by 5.7% in the second quarter. Boston Partners now owns 9,070,795 shares of the oil and gas producer’s stock worth $447,825,000 after buying an additional 492,092 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Energen Corporation by 34.9% in the second quarter. Victory Capital Management Inc. now owns 3,832,506 shares of the oil and gas producer’s stock worth $189,211,000 after buying an additional 990,600 shares during the last quarter. Finally, State Street Corp boosted its stake in Energen Corporation by 4.1% in the first quarter. State Street Corp now owns 3,306,183 shares of the oil and gas producer’s stock worth $179,991,000 after buying an additional 131,399 shares during the last quarter. 95.64% of the stock is owned by hedge funds and other institutional investors.
About Energen Corporation
Energen Corporation 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. Its operations are conducted through subsidiary, Energen Resources Corporation and occur within the Midland Basin, the Delaware Basin and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico.
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