Analysts expect Energen Co. (NYSE:EGN) to post sales of $333.87 million for the current quarter, according to Zacks. Seven analysts have made estimates for Energen’s earnings, with the lowest sales estimate coming in at $318.19 million and the highest estimate coming in at $350.19 million. Energen reported sales of $256.82 million during the same quarter last year, which would suggest a positive year over year growth rate of 30%. The company is scheduled to announce its next earnings results on Tuesday, August 14th.
On average, analysts expect that Energen will report full-year sales of $1.44 billion for the current year, with estimates ranging from $1.36 billion to $1.52 billion. For the next year, analysts forecast that the company will report sales of $1.92 billion per share, with estimates ranging from $1.78 billion to $2.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Energen.
Energen (NYSE:EGN) last announced its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. Energen had a return on equity of 4.95% and a net margin of 34.60%. The company had revenue of $356.17 million during the quarter, compared to analyst estimates of $335.96 million. During the same period last year, the company posted ($0.13) earnings per share. The firm’s quarterly revenue was up 47.8% compared to the same quarter last year.
EGN has been the subject of a number of research reports. Stifel Nicolaus set a $99.00 target price on Energen and gave the company a “buy” rating in a research note on Wednesday, March 28th. Zacks Investment Research lowered Energen from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. ValuEngine upgraded Energen from a “hold” rating to a “buy” rating in a research note on Wednesday. TheStreet upgraded Energen from a “c+” rating to a “b-” rating in a research report on Monday, April 16th. Finally, Stephens reiterated a “buy” rating and issued a $74.00 price objective on shares of Energen in a research report on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $72.00.
In related news, insider Carl C. Icahn bought 225,706 shares of the firm’s stock in a transaction dated Thursday, June 21st. The stock was bought at an average cost of $63.70 per share, for a total transaction of $14,377,472.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Carl C. Icahn bought 500,000 shares of the firm’s stock in a transaction dated Thursday, June 28th. The shares were bought at an average price of $71.32 per share, with a total value of $35,660,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,101,121 shares of company stock valued at $75,453,068 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. bought a new position in shares of Energen during the 4th quarter valued at about $115,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Energen by 137.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 3,111 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 1,800 shares in the last quarter. Montag A & Associates Inc. bought a new position in shares of Energen during the 1st quarter valued at about $201,000. Fulton Bank N.A. bought a new position in shares of Energen during the 1st quarter valued at about $203,000. Finally, 1492 Capital Management LLC bought a new position in shares of Energen during the 4th quarter valued at about $205,000. Institutional investors own 93.29% of the company’s stock.
Shares of NYSE:EGN traded up $0.27 during midday trading on Friday, reaching $71.73. The company’s stock had a trading volume of 1,488,766 shares, compared to its average volume of 1,239,303. Energen has a fifty-two week low of $46.16 and a fifty-two week high of $72.47. The firm has a market cap of $6.70 billion, a PE ratio of 95.64 and a beta of 1.40. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.48 and a current ratio of 0.53.
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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