Energen Corporation to Post Q2 2017 Earnings of $0.04 Per Share, SunTrust Banks Forecasts (EGN)
Energen Corporation (NYSE:EGN) – Investment analysts at SunTrust Banks reduced their Q2 2017 EPS estimates for Energen Corporation in a research report issued to clients and investors on Thursday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will earn $0.04 per share for the quarter, down from their previous estimate of $0.10. SunTrust Banks also issued estimates for Energen Corporation’s FY2020 earnings at $3.35 EPS.
A number of other equities analysts also recently issued reports on EGN. Royal Bank of Canada set a $66.00 price objective on shares of Energen Corporation and gave the stock a “hold” rating in a report on Thursday, April 20th. Williams Capital lifted their target price on Energen Corporation from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. ValuEngine cut Energen Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Seaport Global Securities cut Energen Corporation from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $61.00 to $38.00 in a research note on Wednesday, June 21st. Finally, Scotiabank reiterated a “buy” rating and set a $56.00 target price on shares of Energen Corporation in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $67.30.
Shares of Energen Corporation (NYSE EGN) opened at 47.63 on Monday. Energen Corporation has a 52-week low of $43.70 and a 52-week high of $64.43. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 67.46 and a beta of 1.93. The firm’s 50-day moving average is $53.71 and its 200 day moving average is $54.29.
Energen Corporation (NYSE:EGN) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. Energen Corporation had a negative return on equity of 2.79% and a net margin of 10.69%. The firm had revenue of $240.90 million for the quarter, compared to the consensus estimate of $166.69 million. During the same period last year, the company posted ($0.64) earnings per share. The business’s revenue was up 87.9% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the stock. Investment Counselors of Maryland LLC boosted its stake in shares of Energen Corporation by 22.6% in the first quarter. Investment Counselors of Maryland LLC now owns 3,711 shares of the oil and gas producer’s stock valued at $202,000 after buying an additional 685 shares in the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of Energen Corporation by 735.0% in the first quarter. Miller Howard Investments Inc. NY now owns 139,980 shares of the oil and gas producer’s stock valued at $7,621,000 after buying an additional 123,215 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Energen Corporation by 10.8% in the first quarter. Glen Harbor Capital Management LLC now owns 5,152 shares of the oil and gas producer’s stock valued at $280,000 after buying an additional 504 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Energen Corporation by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 24,500 shares of the oil and gas producer’s stock valued at $1,334,000 after buying an additional 500 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Energen Corporation by 7.2% in the first quarter. Capstone Asset Management Co. now owns 8,582 shares of the oil and gas producer’s stock valued at $467,000 after buying an additional 580 shares in the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.
In other news, Director Alan A. Kleier acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average cost of $47.59 per share, for a total transaction of $47,590.00. Following the purchase, the director now owns 1,500 shares of the company’s stock, valued at approximately $71,385. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.
About Energen Corporation
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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