Williams Capital Analysts Cut Earnings Estimates for Energen Corp. (EGN)
Energen Corp. (NYSE:EGN) – Stock analysts at Williams Capital dropped their FY2018 earnings per share estimates for shares of Energen Corp. in a research report issued to clients and investors on Monday. Williams Capital analyst G. Sorbara now anticipates that the firm will earn $1.66 per share for the year, down from their prior estimate of $1.73. Williams Capital currently has a “Buy” rating and a $68.00 target price on the stock.
Energen Corp. (NYSE:EGN) last announced its earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating 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 company had revenue of $105.80 million for the quarter, compared to the consensus estimate of $144.31 million. During the same period in the previous year, the business earned $0.10 EPS. The company’s revenue was down 37.1% on a year-over-year basis.
A number of other equities analysts have also recently weighed in on the stock. Barclays PLC started coverage on shares of Energen Corp. in a research report on Tuesday, June 21st. They set an “equal weight” rating and a $50.00 price target on the stock. Wunderlich lifted their price target on shares of Energen Corp. from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, June 21st. Royal Bank Of Canada lifted their price target on shares of Energen Corp. from $43.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 21st. Credit Suisse Group AG lifted their price target on shares of Energen Corp. from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 21st. Finally, BMO Capital Markets reissued a “hold” rating and set a $60.00 price target on shares of Energen Corp. in a research report on Wednesday, June 22nd. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Energen Corp. has an average rating of “Buy” and an average price target of $57.43.
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Shares of Energen Corp. (NYSE:EGN) traded down 0.8015% during mid-day trading on Tuesday, reaching $56.3646. 560,133 shares of the company’s stock traded hands. 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 is $56.28 and its 200-day moving average is $48.67. The firm’s market cap is $5.47 billion.
In related news, Chairman J T. Mcmanus sold 10,216 shares of the 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 transaction, the chairman now directly 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 SEC, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. ClariVest Asset Management LLC bought a new position in shares of Energen Corp. during the second quarter valued at about $103,000. Creative Planning raised its position in shares of Energen Corp. by 875.0% in the second quarter. Creative Planning now owns 3,315 shares of the company’s stock valued at $160,000 after buying an additional 2,975 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Energen Corp. during the second quarter valued at about $202,000. Fruth Investment Management bought a new position in shares of Energen Corp. during the second quarter valued at about $212,000. Finally, Hsbc Holdings PLC bought a new position in shares of Energen Corp. during the second quarter valued at about $217,000. 93.34% 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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