Q3 2016 EPS Estimates for Energen Corp. Lowered by Analyst (EGN)
Energen Corp. (NYSE:EGN) – Equities research analysts at Williams Capital lowered their Q3 2016 earnings per share estimates for Energen Corp. in a report released on Monday. Williams Capital analyst G. Sorbara now anticipates that the brokerage will post earnings per share of ($0.24) for the quarter, down from their prior estimate of ($0.17). Williams Capital currently has a “Buy” rating and a $68.00 price target on the stock. Williams Capital also issued estimates for Energen Corp.’s FY2016 earnings at ($1.30) EPS and FY2017 earnings at ($0.02) EPS.
Energen Corp. (NYSE:EGN) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the Zacks’ 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 business earned $105.80 million during the quarter, compared to analysts’ expectations of $144.31 million. During the same period in the previous year, the company earned $0.10 earnings per share. Energen Corp.’s revenue for the quarter was down 37.1% on a year-over-year basis.
A number of other brokerages have also recently commented on EGN. Mizuho began coverage on Energen Corp. in a research note on Wednesday, October 5th. They issued a “buy” rating and a $70.00 price target for the company. Wunderlich increased their target price on Energen Corp. from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 6th. Nomura increased their target price on Energen Corp. from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 13th. TheStreet raised Energen Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Energen Corp. in a research note on Wednesday, August 31st. Twelve research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Energen Corp. has an average rating of “Buy” and a consensus target price of $57.43.
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Shares of Energen Corp. (NYSE:EGN) traded up 2.90% during mid-day trading on Wednesday, hitting $57.88. 418,656 shares of the stock were exchanged. The company’s market capitalization is $5.62 billion. The firm has a 50-day moving average price of $56.28 and a 200 day moving average price of $48.73. Energen Corp. has a 12-month low of $20.76 and a 12-month high of $61.98.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGN. Prudential Financial Inc. boosted its position in 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 in the last quarter. Franklin Resources Inc. boosted its position in Energen Corp. by 32.8% in the first quarter. Franklin Resources Inc. now owns 931,207 shares of the company’s stock worth $34,073,000 after buying an additional 230,207 shares in the last quarter. BlackRock Fund Advisors boosted its position in Energen Corp. by 21.3% in the first quarter. BlackRock Fund Advisors now owns 3,362,166 shares of the company’s stock worth $123,022,000 after buying an additional 589,613 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Energen Corp. by 18.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,772,451 shares of the company’s stock worth $101,444,000 after buying an additional 423,441 shares in the last quarter. Finally, M&T Bank Corp boosted its position in Energen Corp. by 52.6% in the first quarter. M&T Bank Corp now owns 9,252 shares of the company’s stock worth $337,000 after buying an additional 3,188 shares in the last quarter. Hedge funds and other institutional investors own 93.34% of the company’s stock.
In related news, Chairman J T. Mcmanus sold 10,216 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the transaction, the chairman now owns 103,789 shares in the company, valued at $5,457,225.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is owned by corporate insiders.
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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