Energen Co. (NYSE:EGN) – Equities research analysts at Seaport Global Securities boosted their FY2017 earnings per share (EPS) estimates for Energen in a research report issued to clients and investors on Friday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will post earnings per share of $0.54 for the year, up from their previous forecast of $0.51. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Energen’s Q4 2017 earnings at $0.42 EPS, Q1 2018 earnings at $0.59 EPS, Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.68 EPS and FY2018 earnings at $2.61 EPS.
Several other research analysts also recently weighed in on the company. Morgan Stanley upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 price target for the company in a research note on Wednesday, January 24th. KeyCorp set a $70.00 price target on Energen and gave the stock a “buy” rating in a research note on Sunday, January 21st. Mizuho set a $72.00 price target on Energen and gave the stock a “buy” rating in a research note on Tuesday, January 16th. JPMorgan Chase & Co. downgraded Energen from a “neutral” rating to an “underweight” rating and set a $57.00 price target for the company. in a research note on Friday, December 15th. Finally, Credit Suisse Group started coverage on Energen in a report on Monday, December 11th. They set a “neutral” rating and a $60.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.05.
Energen (NYSE:EGN) last posted its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. Energen had a negative return on equity of 0.45% and a negative net margin of 1.17%. The business had revenue of $191.50 million during the quarter, compared to the consensus estimate of $242.81 million. During the same period in the prior year, the company posted ($0.22) EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year.
In related news, Director Lori A. Lancaster purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were bought at an average price of $57.79 per share, for a total transaction of $57,790.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $57,790. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Corvex Management Lp sold 80,294 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $57.56, for a total value of $4,621,722.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Keybank National Association OH raised its holdings in Energen by 48.2% during the 3rd quarter. Keybank National Association OH now owns 53,727 shares of the oil and gas producer’s stock valued at $2,938,000 after buying an additional 17,464 shares during the period. Comerica Bank raised its holdings in Energen by 55.7% during the 3rd quarter. Comerica Bank now owns 127,313 shares of the oil and gas producer’s stock valued at $6,507,000 after buying an additional 45,547 shares during the period. BlueCrest Capital Management Ltd raised its holdings in Energen by 73.4% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 164,178 shares of the oil and gas producer’s stock valued at $8,105,000 after buying an additional 69,519 shares during the period. Cipher Capital LP raised its holdings in Energen by 65.8% during the 3rd quarter. Cipher Capital LP now owns 71,121 shares of the oil and gas producer’s stock valued at $3,888,000 after buying an additional 28,229 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Energen 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 valued at $2,414,000 after buying an additional 4,900 shares during the period. Institutional investors own 96.14% of the company’s stock.
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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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