Energen Co. (NYSE:EGN) – Analysts at Seaport Global Securities upped their FY2017 earnings per share estimates for Energen in a report released on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now expects that the oil and gas producer will earn $0.51 per share for the year, up from their prior forecast of $0.31. Seaport Global Securities also issued estimates for Energen’s Q4 2017 earnings at $0.38 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.62 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.59 EPS and FY2018 earnings at $2.40 EPS.
EGN has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Energen from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. JPMorgan Chase & Co. downgraded shares of Energen from a “neutral” rating to an “underweight” rating and set a $57.00 price objective on the stock. in a research report on Friday, December 15th. Barclays increased their price objective on shares of Energen from $57.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 11th. Bank of America initiated coverage on shares of Energen in a research report on Monday, October 16th. They set a “neutral” rating on the stock. Finally, SunTrust Banks restated a “buy” rating and set a $70.00 price objective on shares of Energen in a research report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $64.81.
Shares of Energen (NYSE:EGN) traded down $0.24 during trading on Thursday, reaching $57.95. 584,829 shares of the company were exchanged, compared to its average volume of 782,700. The company has a market capitalization of $5,630.00, a P/E ratio of -526.82, a price-to-earnings-growth ratio of 0.97 and a beta of 1.90. Energen has a 12 month low of $46.16 and a 12 month high of $60.07. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.24.
Energen (NYSE:EGN) last issued its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. The firm had revenue of $191.50 million for the quarter, compared to the consensus estimate of $242.81 million. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC increased its stake in shares of Energen by 2.3% in the second quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock worth $264,000 after purchasing an additional 119 shares in the last quarter. Utah Retirement Systems increased its stake in shares of Energen by 1.1% in the second quarter. Utah Retirement Systems now owns 17,822 shares of the oil and gas producer’s stock worth $880,000 after purchasing an additional 200 shares in the last quarter. Comerica Bank increased its stake in shares of Energen by 0.4% in the second quarter. Comerica Bank now owns 81,766 shares of the oil and gas producer’s stock worth $4,191,000 after purchasing an additional 338 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of Energen by 1.5% in the second quarter. Suntrust Banks Inc. now owns 26,481 shares of the oil and gas producer’s stock worth $1,306,000 after purchasing an additional 393 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Energen by 0.8% in the second quarter. Synovus Financial Corp now owns 52,267 shares of the oil and gas producer’s stock worth $2,581,000 after purchasing an additional 408 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Lori A. Lancaster acquired 1,000 shares of Energen stock in a transaction dated Friday, December 22nd. The stock was purchased at an average cost of $57.79 per share, with a total value of $57,790.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $57,790. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Corvex Management Lp sold 80,294 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $57.56, for a total transaction of $4,621,722.64. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
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Energen Company Profile
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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