KeyCorp Weighs in on Energen Corp.’s Q3 2016 Earnings (EGN)
Energen Corp. (NYSE:EGN) – Research analysts at KeyCorp cut their Q3 2016 EPS estimates for shares of Energen Corp. in a research report issued to clients and investors on Thursday. KeyCorp analyst C. Stevens now forecasts that the brokerage will post earnings per share of ($0.26) for the quarter, down from their prior forecast of ($0.25). KeyCorp has a “Overweight” rating and a $66.00 price target 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 released its quarterly earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.09. The business had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. Energen Corp.’s revenue for the quarter was down 37.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS.
Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity initiated coverage on Energen Corp. in a report on Monday, September 19th. They set a “buy” rating and a $66.00 price objective for the company. TheStreet upgraded Energen Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 26th. Mizuho initiated coverage on Energen Corp. in a report on Wednesday, October 5th. They set a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research upgraded Energen Corp. from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Wednesday, July 6th. Finally, Wunderlich boosted their price objective on Energen Corp. from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $56.39.
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Shares of Energen Corp. (NYSE:EGN) opened at 57.13 on Monday. The company’s market capitalization is $5.55 billion. Energen Corp. has a 52-week low of $20.76 and a 52-week high of $61.98. The company’s 50-day moving average price is $55.95 and its 200-day moving average price is $47.55.
A number of hedge funds have recently modified their holdings of EGN. Prudential Financial Inc. boosted its stake in shares of Energen Corp. by 31.4% in the first quarter. Prudential Financial Inc. now owns 63,199 shares of the company’s stock worth $2,312,000 after buying an additional 15,110 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Energen Corp. by 3,371.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 520,790 shares of the company’s stock valued at $19,056,000 after buying an additional 505,790 shares in the last quarter. Bogle Investment Management L P DE bought a new position in shares of Energen Corp. during the first quarter valued at $1,484,000. HBK Investments L P raised its position in shares of Energen Corp. by 125.5% in the first quarter. HBK Investments L P now owns 100,289 shares of the company’s stock valued at $3,670,000 after buying an additional 55,815 shares in the last quarter. Finally, Elliott Management Corp bought a new position in shares of Energen Corp. during the first quarter valued at $6,037,000. 93.37% of the stock is currently owned by institutional investors and hedge funds.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $52.58, for a total transaction of $537,157.28. Following the sale, the chairman now owns 103,789 shares of the company’s stock, valued at $5,457,225.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.
About Energen Corp.
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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