$224.42 Million in Sales Expected for Energen Corporation (EGN) This Quarter
Equities analysts expect that Energen Corporation (NYSE:EGN) will announce sales of $224.42 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Energen Corporation’s earnings, with the lowest sales estimate coming in at $217.00 million and the highest estimate coming in at $236.41 million. Energen Corporation posted sales of $105.77 million during the same quarter last year, which would indicate a positive year over year growth rate of 112.2%. The business is scheduled to issue its next earnings report before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that Energen Corporation will report full-year sales of $224.42 million for the current fiscal year, with estimates ranging from $897.39 million to $1.00 billion. For the next financial year, analysts forecast that the firm will post sales of $1.23 billion per share, with estimates ranging from $955.00 million to $1.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Energen Corporation.
A number of equities research analysts recently issued reports on the company. ValuEngine raised Energen Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded Energen Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Royal Bank Of Canada set a $66.00 price target on Energen Corporation and gave the stock a “hold” rating in a research report on Thursday, April 20th. Williams Capital increased their price target on Energen Corporation from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Barclays PLC reissued a “hold” rating and set a $57.00 price target (down previously from $63.00) on shares of Energen Corporation in a research report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. Energen Corporation presently has a consensus rating of “Buy” and a consensus target price of $66.68.
In other news, Director Alan A. Kleier acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were bought at an average price of $47.59 per share, with a total value of $47,590.00. Following the acquisition, the director now directly owns 1,500 shares in the company, valued at approximately $71,385. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in EGN. Morgan Stanley increased its stake in Energen Corporation by 11.7% in the first quarter. Morgan Stanley now owns 226,536 shares of the oil and gas producer’s stock valued at $12,333,000 after buying an additional 23,656 shares during the period. CarVal Investors LLC purchased a new stake in Energen Corporation during the first quarter valued at $5,444,000. Rafferty Asset Management LLC purchased a new stake in Energen Corporation during the first quarter valued at $909,000. Elliott Management Corp purchased a new stake in Energen Corporation during the first quarter valued at $46,274,000. Finally, World Asset Management Inc increased its stake in Energen Corporation by 1.8% in the first quarter. World Asset Management Inc now owns 6,588 shares of the oil and gas producer’s stock valued at $359,000 after buying an additional 114 shares during the period. 95.64% of the stock is currently owned by institutional investors.
Shares of Energen Corporation (NYSE:EGN) opened at 49.36 on Tuesday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 69.92 and a beta of 1.93. The company has a 50-day moving average price of $50.31 and a 200 day moving average price of $52.96. Energen Corporation has a 52 week low of $46.10 and a 52 week high of $64.43.
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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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