KeyCorp Analysts Reduce Earnings Estimates for Energen Corporation (EGN)
Energen Corporation (NYSE:EGN) – Investment analysts at KeyCorp reduced their Q4 2017 EPS estimates for Energen Corporation in a research report issued to clients and investors on Wednesday. KeyCorp analyst C. Stevens now anticipates that the oil and gas producer will earn $0.36 per share for the quarter, down from their previous estimate of $0.37. KeyCorp also issued estimates for Energen Corporation’s Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.38 EPS and FY2018 earnings at $1.51 EPS.
EGN has been the subject of several other reports. ValuEngine upgraded Energen Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Seaport Global Securities upgraded Energen Corporation from a “sell” rating to a “neutral” rating and boosted their price target for the company from $38.00 to $46.00 in a report on Friday, August 11th. Zacks Investment Research upgraded Energen Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Mizuho reiterated a “buy” rating and issued a $69.00 price target on shares of Energen Corporation in a report on Friday, September 29th. Finally, Stifel Nicolaus set a $80.00 price target on Energen Corporation and gave the company a “buy” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. Energen Corporation presently has an average rating of “Buy” and an average target price of $66.00.
Energen Corporation (NYSE:EGN) opened at 52.67 on Monday. Energen Corporation has a 12 month low of $46.16 and a 12 month high of $64.43. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 83.34 and a beta of 1.95. The company has a 50-day moving average price of $52.97 and a 200 day moving average price of $52.26.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $256.82 million during the quarter, compared to analyst estimates of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The firm’s revenue for the quarter was up 142.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.28) earnings per share.
A number of institutional investors have recently made changes to their positions in the stock. Shell Asset Management Co. boosted its position in Energen Corporation by 1,441.1% during the 3rd quarter. Shell Asset Management Co. now owns 13,284 shares of the oil and gas producer’s stock worth $960,000 after purchasing an additional 12,422 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Energen Corporation during the 2nd quarter worth $584,000. Public Employees Retirement System of Ohio boosted its position in Energen Corporation by 11.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 48,901 shares of the oil and gas producer’s stock worth $2,414,000 after purchasing an additional 4,900 shares during the period. Ameritas Investment Partners Inc. boosted its position in Energen Corporation by 1.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 44,447 shares of the oil and gas producer’s stock worth $2,194,000 after purchasing an additional 433 shares during the period. Finally, Americafirst Capital Management LLC purchased a new stake in Energen Corporation during the 2nd quarter worth $1,258,000. 94.01% of the stock is owned by hedge funds and other institutional investors.
Energen Corporation Company Profile
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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