Energen (NYSE:EGN) – Stock analysts at SunTrust Banks boosted their Q3 2018 EPS estimates for Energen in a research report issued on Monday, April 16th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will post earnings per share of $0.86 for the quarter, up from their previous forecast of $0.66. SunTrust Banks currently has a “Buy” rating and a $85.00 target price on the stock. SunTrust Banks also issued estimates for Energen’s Q4 2018 earnings at $1.13 EPS, FY2018 earnings at $3.50 EPS, FY2019 earnings at $4.89 EPS and FY2020 earnings at $6.04 EPS.
Energen (NYSE:EGN) last posted its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.22. The company 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 period in the prior year, the company posted ($0.27) EPS.
A number of other equities analysts have also recently weighed in on EGN. 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. KeyCorp set a $70.00 price objective on shares of Energen and gave the company a “buy” rating in a research report on Sunday, January 21st. Morgan Stanley upgraded shares of Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 24th. Seaport Global Securities upgraded shares of Energen from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus set a $85.00 target price on shares of Energen and gave the company a “buy” rating in a research note on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $69.59.
NYSE:EGN opened at $68.17 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.55. The stock has a market capitalization of $6,350.79, a price-to-earnings ratio of 90.89 and a beta of 1.41. Energen has a 1-year low of $46.16 and a 1-year high of $69.24.
Several large investors have recently made changes to their positions in the business. Millennium Management LLC increased its stake in shares of Energen by 86.2% in the fourth quarter. Millennium Management LLC now owns 2,928,514 shares of the oil and gas producer’s stock valued at $168,595,000 after purchasing an additional 1,355,480 shares during the period. Franklin Resources Inc. increased its stake in shares of Energen by 12.2% in the fourth quarter. Franklin Resources Inc. now owns 1,438,419 shares of the oil and gas producer’s stock valued at $82,810,000 after purchasing an additional 156,665 shares during the period. Systematic Financial Management LP increased its stake in shares of Energen by 2.2% in the fourth quarter. Systematic Financial Management LP now owns 1,344,013 shares of the oil and gas producer’s stock valued at $77,375,000 after purchasing an additional 29,302 shares during the period. Geode Capital Management LLC increased its stake in shares of Energen by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 841,735 shares of the oil and gas producer’s stock valued at $48,458,000 after purchasing an additional 44,982 shares during the period. Finally, Advisory Research Inc. increased its stake in shares of Energen by 29.4% in the fourth quarter. Advisory Research Inc. now owns 799,611 shares of the oil and gas producer’s stock valued at $46,034,000 after purchasing an additional 181,685 shares during the period. Institutional investors own 93.58% of the company’s stock.
In related news, Chairman J T. Mcmanus sold 3,116 shares of the stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $58.06, for a total transaction of $180,914.96. Following the sale, the chairman now owns 115,794 shares in the company, valued at $6,722,999.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Z. Cohen purchased 17,500 shares of the company’s stock in a transaction on Friday, March 9th. The stock was purchased at an average price of $57.36 per share, for a total transaction of $1,003,800.00. Following the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at approximately $1,003,800. The disclosure for this purchase can be found here. 1.05% of the stock is owned by corporate insiders.
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Energen Company Profile
Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations 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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