Energen Corp. (NYSE:EGN) – Research analysts at KeyCorp decreased their Q3 2016 EPS estimates for Energen Corp. in a research note issued on Thursday. KeyCorp analyst C. Stevens now anticipates that the brokerage will post earnings per share of ($0.26) for the quarter, down from their previous estimate of ($0.25). KeyCorp currently has a “Overweight” rating and a $66.00 price objective on the stock. KeyCorp also issued estimates for Energen Corp.’s Q4 2016 earnings at ($0.25) EPS, FY2016 earnings at ($1.39) EPS, Q1 2017 earnings at ($0.09) EPS, Q2 2017 earnings at ($0.04) EPS, Q3 2017 earnings at $0.02 EPS and FY2017 earnings at ($0.05) EPS.
Energen Corp. (NYSE:EGN) last announced its earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. The company 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 revenue for the quarter was down 37.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share.
Several other brokerages also recently issued reports on EGN. Mizuho assumed coverage on Energen Corp. in a research note on Wednesday, October 5th. They set a “buy” rating and a $70.00 target price on the stock. Wunderlich lifted their price objective on Energen Corp. from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 6th. TheStreet raised Energen Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Energen Corp. in a research note on Wednesday, August 31st. Finally, Williams Capital initiated coverage on Energen Corp. in a research note on Monday, August 29th. They issued a “buy” rating and a $68.00 price objective on the stock. Twelve investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Energen Corp. currently has an average rating of “Buy” and an average price target of $56.39.
Energen Corp. (NYSE:EGN) opened at 59.26 on Monday. The company’s 50 day moving average price is $56.05 and its 200-day moving average price is $47.94. The company’s market cap is $5.75 billion. Energen Corp. has a one year low of $20.76 and a one year high of $61.98.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC raised its position 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 in the last quarter. Weiss Asset Management LP acquired a new position in shares of Energen Corp. during the first quarter valued at about $1,098,000. AXA acquired a new position in shares of Energen Corp. during the first quarter valued at about $4,178,000. UBS Group AG raised its position in shares of Energen Corp. by 113.3% in the first quarter. UBS Group AG now owns 77,717 shares of the company’s stock valued at $2,844,000 after buying an additional 41,276 shares in the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in shares of Energen Corp. during the first quarter valued at about $585,000. 93.37% of the stock is currently owned by institutional investors.
In related news, Chairman J T. Mcmanus sold 10,216 shares of the company’s 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 transaction, the chairman now directly owns 103,789 shares of the company’s stock, valued at approximately $5,457,225.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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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