Energen Corp. to Post Q4 2017 Earnings of $0.06 Per Share, KeyCorp Forecasts (EGN)
Energen Corp. (NYSE:EGN) – Stock analysts at KeyCorp lifted their Q4 2017 earnings per share estimates for shares of Energen Corp. in a research note issued on Thursday. KeyCorp analyst C. Stevens now forecasts that the firm will post earnings of $0.06 per share for the quarter, up from their previous estimate of $0.05. KeyCorp has a “Overweight” rating and a $66.00 price objective on the stock. KeyCorp also issued estimates for Energen Corp.’s FY2018 earnings at $0.70 EPS.
Energen Corp. (NYSE:EGN) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.09. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. The firm earned $105.80 million during the quarter, compared to analysts’ expectations of $144.31 million. During the same quarter in the prior year, the company earned $0.10 EPS. The company’s revenue was down 37.1% compared to the same quarter last year.
A number of other equities research analysts have also recently commented on EGN. Citigroup Inc. increased their target price on shares of Energen Corp. from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 18th. Deutsche Bank AG increased their target price on shares of Energen Corp. from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Tuesday, June 14th. Zacks Investment Research cut shares of Energen Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Wunderlich increased their target price on shares of Energen Corp. from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, June 21st. Finally, Royal Bank Of Canada raised their price objective on shares of Energen Corp. from $50.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 10th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.39.
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Shares of Energen Corp. (NYSE:EGN) traded down 1.44% during midday trading on Friday, hitting $57.50. 690,604 shares of the stock traded hands. Energen Corp. has a 52-week low of $20.76 and a 52-week high of $61.98. The company’s market cap is $5.58 billion. The stock has a 50-day moving average of $55.94 and a 200-day moving average of $47.39.
In other news, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $52.58, for a total value 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 accessible through this hyperlink. 1.02% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado boosted its position in shares of Energen Corp. by 0.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 19,709 shares of the company’s stock worth $950,000 after buying an additional 74 shares during the last quarter. Simmons Bank boosted its position in shares of Energen Corp. by 1.2% in the second quarter. Simmons Bank now owns 6,580 shares of the company’s stock worth $317,000 after buying an additional 80 shares during the last quarter. Baldwin Investment Management LLC boosted its position in shares of Energen Corp. by 1.7% in the second quarter. Baldwin Investment Management LLC now owns 6,248 shares of the company’s stock worth $301,000 after buying an additional 103 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Energen Corp. by 1.8% in the second quarter. Stifel Financial Corp now owns 7,877 shares of the company’s stock worth $380,000 after buying an additional 142 shares during the last quarter. Finally, IBM Retirement Fund boosted its position in shares of Energen Corp. by 3.0% in the second quarter. IBM Retirement Fund now owns 9,795 shares of the company’s stock worth $472,000 after buying an additional 281 shares during the last quarter. 93.37% of the stock is currently owned by institutional investors and hedge funds.
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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