SunTrust Banks Analysts Boost Earnings Estimates for Energen Co. (EGN)

Energen Co. (NYSE:EGN) – Equities researchers at SunTrust Banks upped their FY2018 earnings per share (EPS) estimates for shares of Energen in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will post earnings of $2.42 per share for the year, up from their previous forecast of $1.70. SunTrust Banks also issued estimates for Energen’s FY2019 earnings at $3.04 EPS and FY2020 earnings at $3.45 EPS.

EGN has been the subject of a number of other reports. Credit Suisse Group began coverage on Energen in a report on Monday, December 11th. They issued a “neutral” rating and a $60.00 price target for the company. Stifel Nicolaus set a $85.00 price objective on Energen and gave the stock a “buy” rating in a research report on Monday, January 29th. ValuEngine downgraded Energen from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Seaport Global Securities upgraded Energen from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Finally, Zacks Investment Research upgraded Energen from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Thursday, October 12th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $66.29.

Energen (NYSE EGN) traded down $1.37 during trading on Thursday, hitting $50.46. The stock had a trading volume of 333,749 shares, compared to its average volume of 988,463. Energen has a 52-week low of $46.16 and a 52-week high of $60.07. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $5,178.92, a price-to-earnings ratio of -474.91 and a beta of 1.73.

In other news, Director Lori A. Lancaster purchased 1,000 shares of the stock in a transaction on Friday, December 22nd. The shares were acquired at an average price of $57.79 per share, for a total transaction of $57,790.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $57,790. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Corvex Management Lp sold 80,294 shares of the firm’s stock in a transaction dated 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. Company insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGN. Bank of Nova Scotia purchased a new stake in Energen during the second quarter valued at about $20,241,000. Scout Investments Inc. purchased a new stake in Energen during the third quarter valued at about $21,713,000. Highbridge Capital Management LLC purchased a new stake in Energen during the third quarter valued at about $15,830,000. Systematic Financial Management LP raised its position in Energen by 19.5% during the third quarter. Systematic Financial Management LP now owns 1,314,711 shares of the oil and gas producer’s stock valued at $71,888,000 after purchasing an additional 214,802 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in Energen by 473.3% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 245,961 shares of the oil and gas producer’s stock valued at $14,160,000 after purchasing an additional 203,061 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

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Energen 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.

Earnings History and Estimates for Energen (NYSE:EGN)

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