Energen Co. (NYSE:EGN) – Investment analysts at KeyCorp dropped their Q1 2018 earnings per share estimates for Energen in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. KeyCorp analyst C. Stevens now forecasts that the oil and gas producer will earn $0.83 per share for the quarter, down from their prior forecast of $0.84. KeyCorp has a “Buy” rating and a $70.00 price objective on the stock. KeyCorp also issued estimates for Energen’s Q2 2018 earnings at $0.81 EPS and FY2018 earnings at $3.58 EPS.
A number of other research analysts have also recently commented on the company. Jefferies Group set a $80.00 price objective on Energen and gave the company a “buy” rating in a report on Monday. Stephens reiterated a “buy” rating and issued a $74.00 price objective on shares of Energen in a report on Thursday, March 15th. UBS started coverage on Energen in a research report on Wednesday, March 7th. They issued a “neutral” rating and a $62.00 target price on the stock. JPMorgan Chase & Co. set a $62.00 target price on Energen and gave the company a “sell” rating in a research report on Monday, March 5th. Finally, Imperial Capital reissued an “outperform” rating and issued a $72.00 target price (up previously from $68.00) on shares of Energen in a research report on Wednesday, February 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Energen currently has a consensus rating of “Buy” and a consensus price target of $67.36.
EGN stock opened at $57.85 on Thursday. Energen has a twelve month low of $46.16 and a twelve month high of $60.07. The company has a market capitalization of $5,496.55, a P/E ratio of 74.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.55.
Energen (NYSE:EGN) last released its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.22. Energen had a return on equity of 2.27% and a net margin of 30.12%. The firm had revenue of $271.80 million for the quarter, compared to analysts’ expectations of $303.95 million. During the same period in the prior year, the firm posted ($0.27) earnings per share. The firm’s quarterly revenue was up 137.3% on a year-over-year basis.
In other Energen news, Director Lori A. Lancaster bought 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 completion of the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $57,790. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Z. Cohen bought 17,500 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was acquired at an average cost of $57.36 per share, for a total transaction of $1,003,800.00. Following the acquisition, the director now directly owns 17,500 shares of the company’s stock, valued at $1,003,800. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its stake in Energen by 5.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 21,071 shares of the oil and gas producer’s stock valued at $1,212,000 after acquiring an additional 1,155 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Energen by 19.7% in the fourth quarter. William Blair Investment Management LLC now owns 37,814 shares of the oil and gas producer’s stock valued at $2,177,000 after acquiring an additional 6,226 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in Energen in the fourth quarter valued at $3,540,000. Millennium Management LLC boosted its stake in Energen by 86.2% in the fourth quarter. Millennium Management LLC now owns 2,928,514 shares of the oil and gas producer’s stock valued at $168,595,000 after acquiring an additional 1,355,480 shares in the last quarter. Finally, Flinton Capital Management LLC boosted 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 acquiring an additional 976 shares in the last quarter. Institutional investors own 93.57% of the company’s stock.
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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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