Energen Co. (NYSE:EGN) – Research analysts at KeyCorp lowered their Q1 2018 earnings per share estimates for Energen in a note issued to investors on Wednesday. KeyCorp analyst C. Stevens now forecasts that the oil and gas producer will post earnings per share of $0.83 for the quarter, down from their prior estimate of $0.84. KeyCorp currently has a “Buy” rating and a $70.00 price target on the stock. KeyCorp also issued estimates for Energen’s Q2 2018 earnings at $0.81 EPS and FY2018 earnings at $3.58 EPS.
Energen (NYSE:EGN) last released its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.22. The company had revenue of $271.80 million for the quarter, compared to analyst estimates of $303.95 million. Energen had a return on equity of 2.27% and a net margin of 30.12%. Energen’s revenue was up 137.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) earnings per share.
EGN has been the subject of a number of other reports. Mizuho set a $72.00 price objective on Energen and gave the stock a “buy” rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. downgraded Energen from a “neutral” rating to an “underweight” rating and set a $57.00 price objective for the company. in a report on Friday, December 15th. Scotiabank reiterated a “buy” rating and set a $63.00 price objective on shares of Energen in a report on Wednesday, November 22nd. Barclays upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective for the company in a report on Monday, November 20th. Finally, Stifel Nicolaus set a $85.00 price objective on Energen and gave the stock a “buy” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $66.48.
Energen (NYSE:EGN) opened at $57.25 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5,644.60, a PE ratio of 76.25 and a beta of 1.61. Energen has a fifty-two week low of $46.16 and a fifty-two week high of $60.07.
A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its stake in Energen by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 163,242 shares of the oil and gas producer’s stock valued at $9,398,000 after purchasing an additional 952 shares in the last quarter. Flinton Capital Management LLC grew its stake in Energen by 18.0% in the fourth quarter. Flinton Capital Management LLC now owns 6,384 shares of the oil and gas producer’s stock valued at $368,000 after purchasing an additional 976 shares in the last quarter. Baldwin Investment Management LLC grew its stake in Energen by 11.1% in the fourth quarter. Baldwin Investment Management LLC now owns 10,513 shares of the oil and gas producer’s stock valued at $605,000 after purchasing an additional 1,050 shares in the last quarter. Amalgamated Bank grew its stake in Energen by 6.1% in the fourth quarter. Amalgamated Bank now owns 18,862 shares of the oil and gas producer’s stock valued at $1,086,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Energen by 5.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,071 shares of the oil and gas producer’s stock worth $1,212,000 after acquiring an additional 1,155 shares during the period. Hedge funds and other institutional investors own 93.59% of the company’s stock.
In related news, Director Jonathan Z. Cohen purchased 17,500 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was purchased at an average cost of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the purchase, the director now directly owns 17,500 shares in the company, valued at $1,003,800. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Corvex Management Lp sold 80,294 shares of the firm’s 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 disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
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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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