Energen (NYSE:EGN) announced its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.22, Bloomberg Earnings reports. The business had revenue of $271.80 million during the quarter, compared to analysts’ expectations of $303.95 million. Energen had a net margin of 30.12% and a return on equity of 2.27%. The firm’s revenue for the quarter was up 137.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) EPS.
Energen (NYSE:EGN) traded down $0.70 during trading on Wednesday, reaching $57.25. 665,969 shares of the company traded hands, compared to its average volume of 1,130,000. The company has a quick ratio of 0.55, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. Energen has a twelve month low of $46.16 and a twelve month high of $60.07. The company has a market cap of $5,580.00, a price-to-earnings ratio of 95.42 and a beta of 1.60.
In other Energen news, major shareholder Corvex Management Lp sold 80,294 shares of Energen stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $57.56, for a total value of $4,621,722.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lori A. Lancaster purchased 1,000 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was bought at an average cost of $57.79 per share, for a total transaction of $57,790.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $57,790. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Keybank National Association OH raised its holdings in shares of Energen by 48.2% in the third quarter. Keybank National Association OH now owns 53,727 shares of the oil and gas producer’s stock valued at $2,938,000 after purchasing an additional 17,464 shares during the last quarter. Comerica Bank raised its holdings in shares of Energen by 55.7% in the third quarter. Comerica Bank now owns 127,313 shares of the oil and gas producer’s stock valued at $6,507,000 after purchasing an additional 45,547 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Energen by 711.2% in the fourth quarter. SG Americas Securities LLC now owns 41,630 shares of the oil and gas producer’s stock valued at $2,397,000 after purchasing an additional 36,498 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Energen by 32.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,813 shares of the oil and gas producer’s stock valued at $335,000 after purchasing an additional 1,436 shares during the last quarter. Finally, Cipher Capital LP raised its holdings in shares of Energen by 65.8% in the third quarter. Cipher Capital LP now owns 71,121 shares of the oil and gas producer’s stock valued at $3,888,000 after purchasing an additional 28,229 shares during the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on EGN shares. Mizuho set a $72.00 price objective on shares of Energen and gave the company a “buy” rating in a research report on Tuesday, January 16th. Morgan Stanley upgraded shares of Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 24th. Deutsche Bank started coverage on shares of Energen in a research report on Thursday, February 1st. They issued a “buy” rating and a $70.00 price objective for the company. Barclays upgraded shares of Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective for the company in a research report on Monday, November 20th. Finally, Zacks Investment Research upgraded shares of Energen from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $66.48.
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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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