Energen Corp. (NYSE:EGN) – Stock analysts at Williams Capital lowered their FY2018 EPS estimates for shares of Energen Corp. in a report issued on Monday. Williams Capital analyst G. Sorbara now anticipates that the firm will post earnings per share of $1.66 for the year, down from their previous estimate of $1.73. Williams Capital has a “Buy” rating and a $68.00 price objective on the stock.
EGN has been the topic of several other research reports. Canaccord Genuity started coverage on Energen Corp. in a report on Monday, September 19th. They issued a “buy” rating and a $66.00 price target on the stock. Mizuho initiated coverage on Energen Corp. in a report on Wednesday, October 5th. They issued a “buy” rating and a $70.00 target price on the stock. TheStreet upgraded Energen Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 26th. Zacks Investment Research upgraded Energen Corp. from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Wednesday, July 6th. Finally, Wunderlich raised their target price on Energen Corp. from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Twelve research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.43.
Energen Corp. (NYSE:EGN) traded up 1.10% during mid-day trading on Tuesday, reaching $56.87. The company had a trading volume of 863,385 shares. Energen Corp. has a 12-month low of $20.76 and a 12-month high of $61.98. The stock has a 50-day moving average of $56.28 and a 200 day moving average of $48.73. The company’s market capitalization is $5.52 billion.
Energen Corp. (NYSE:EGN) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.09. The business earned $105.80 million during the quarter, compared to the consensus estimate of $144.31 million. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The firm’s quarterly revenue was down 37.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS.
A number of large investors have recently modified their holdings of EGN. Geode Capital Management LLC raised its stake in shares of Energen Corp. by 26.1% in the first quarter. Geode Capital Management LLC now owns 598,154 shares of the company’s stock valued at $21,886,000 after buying an additional 123,898 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Energen Corp. by 340.0% in the first quarter. Goldman Sachs Group Inc. now owns 659,076 shares of the company’s stock valued at $24,116,000 after buying an additional 509,271 shares during the period. Riverhead Capital Management LLC raised its stake in shares of Energen Corp. by 3.0% in the first quarter. Riverhead Capital Management LLC now owns 18,032 shares of the company’s stock valued at $660,000 after buying an additional 532 shares during the period. Weiss Asset Management LP purchased a new stake in shares of Energen Corp. during the first quarter valued at about $1,098,000. Finally, AXA purchased a new stake in shares of Energen Corp. during the first quarter valued at about $4,178,000. 93.34% of the stock is owned by hedge funds and other institutional investors.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $52.58, for a total transaction of $537,157.28. Following the completion of the sale, the chairman now owns 103,789 shares of the company’s stock, valued at $5,457,225.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.
Energen Corp. Company Profile
Energen Corporation (Energen) 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 in the Permian Basin in west Texas and the San Juan Basin in New Mexico. It is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin.
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