Energen Co. (NYSE:EGN) – Investment analysts at Jefferies Group upped their FY2018 earnings per share estimates for shares of Energen in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Lear now expects that the oil and gas producer will post earnings of $3.49 per share for the year, up from their prior forecast of $3.48. Jefferies Group currently has a “Buy” rating and a $80.00 price target on the stock. Jefferies Group also issued estimates for Energen’s Q1 2019 earnings at $1.13 EPS, Q2 2019 earnings at $1.19 EPS, Q3 2019 earnings at $1.23 EPS, Q4 2019 earnings at $1.27 EPS and FY2019 earnings at $4.81 EPS.
Energen (NYSE:EGN) last issued its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.22. Energen had a net margin of 30.12% and a return on equity of 2.27%. The company had revenue of $271.80 million for the quarter, compared to the consensus estimate of $303.95 million. During the same quarter in the prior year, the company earned ($0.27) EPS. Energen’s quarterly revenue was up 137.3% on a year-over-year basis.
EGN has been the topic of several other research reports. Credit Suisse Group assumed coverage on shares of Energen in a report on Monday, December 11th. They issued a “neutral” rating and a $60.00 price target on the stock. Stifel Nicolaus set a $85.00 price objective on shares of Energen and gave the stock a “buy” rating in a research note on Monday, January 29th. UBS started coverage on shares of Energen in a research note on Wednesday, March 7th. They set a “neutral” rating and a $62.00 price objective on the stock. ValuEngine cut shares of Energen from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Seaport Global Securities raised shares of Energen from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $67.36.
EGN stock opened at $59.99 on Wednesday. Energen has a fifty-two week low of $46.16 and a fifty-two week high of $60.07. 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 firm has a market cap of $5,401.09, a P/E ratio of 18.03 and a beta of 1.61.
In related news, Director Lori A. Lancaster purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were purchased at an average price of $57.79 per share, with a total value of $57,790.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at $57,790. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Godsey sold 6,000 shares of Energen stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $57.77, for a total transaction of $346,620.00. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in Energen by 55.7% in the 3rd quarter. Comerica Bank now owns 127,313 shares of the oil and gas producer’s stock valued at $6,507,000 after purchasing an additional 45,547 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Energen by 32.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,813 shares of the oil and gas producer’s stock worth $335,000 after acquiring an additional 1,436 shares during the period. SG Americas Securities LLC raised its holdings in shares of Energen by 711.2% during the 4th quarter. SG Americas Securities LLC now owns 41,630 shares of the oil and gas producer’s stock worth $2,397,000 after acquiring an additional 36,498 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Energen during the 3rd quarter worth $15,830,000. Finally, Legal & General Group Plc raised its holdings in shares of Energen by 6.8% during the 3rd quarter. Legal & General Group Plc now owns 123,271 shares of the oil and gas producer’s stock worth $6,739,000 after acquiring an additional 7,858 shares during the period. 93.57% of the stock is currently owned by hedge funds and other institutional investors.
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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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