KeyCorp Analysts Increase Earnings Estimates for Energen Corp. (EGN)
Energen Corp. (NYSE:EGN) – Research analysts at KeyCorp upped their Q4 2017 earnings per share (EPS) estimates for shares of Energen Corp. in a report released on Thursday. KeyCorp analyst C. Stevens now expects that the firm will post earnings of $0.06 per share for the quarter, up from their previous estimate of $0.05. KeyCorp has a “Overweight” rating and a $66.00 price objective on the stock. KeyCorp also issued estimates for Energen Corp.’s FY2018 earnings at $0.70 EPS.
Several other equities research analysts have also recently weighed in on EGN. Deutsche Bank AG upped their target price on Energen Corp. from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Tuesday, June 14th. Stifel Nicolaus started coverage on Energen Corp. in a report on Thursday, June 16th. They issued a “buy” rating and a $55.00 target price for the company. Barclays PLC started coverage on Energen Corp. in a report on Tuesday, June 21st. They issued an “equal weight” rating and a $50.00 target price for the company. Wunderlich upped their target price on Energen Corp. from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, June 21st. Finally, Royal Bank Of Canada upped their target price on Energen Corp. from $43.00 to $48.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 21st. Twelve equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $56.39.
Shares of Energen Corp. (NYSE:EGN) opened at 57.13 on Friday. The company’s market capitalization is $5.55 billion. Energen Corp. has a 1-year low of $20.76 and a 1-year high of $61.98. The firm’s 50 day moving average price is $55.95 and its 200-day moving average price is $47.55.
Energen Corp. (NYSE:EGN) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.09. The business earned $105.80 million during the quarter, compared to the consensus estimate of $144.31 million. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The business’s quarterly revenue was down 37.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC purchased a new position in shares of Energen Corp. during the second quarter worth $103,000. Creative Planning raised its position in shares of Energen Corp. by 875.0% in the second quarter. Creative Planning now owns 3,315 shares of the company’s stock worth $160,000 after buying an additional 2,975 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Energen Corp. during the second quarter worth $202,000. Fruth Investment Management purchased a new position in shares of Energen Corp. during the second quarter worth $212,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Energen Corp. during the second quarter worth $217,000. 93.37% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the transaction, the chairman now directly owns 103,789 shares of the company’s stock, valued at $5,457,225.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is owned by insiders.
Energen Corp. Company Profile
Energen Corporation (Energen) 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 in the Permian Basin in west Texas and the San Juan Basin in New Mexico. It is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin.
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