KeyCorp Analysts Cut Earnings Estimates for Energen Corp. (EGN)
Energen Corp. (NYSE:EGN) – Research analysts at KeyCorp reduced their Q3 2016 earnings estimates for Energen Corp. in a research note issued to investors on Thursday. KeyCorp analyst C. Stevens now forecasts that the brokerage will earn ($0.26) per share for the quarter, down from their previous forecast of ($0.25). KeyCorp currently has a “Overweight” rating and a $66.00 target price on the stock. KeyCorp also issued estimates for Energen Corp.’s Q4 2016 earnings at ($0.25) EPS, FY2016 earnings at ($1.39) EPS, Q1 2017 earnings at ($0.09) EPS, Q2 2017 earnings at ($0.04) EPS, Q3 2017 earnings at $0.02 EPS and FY2017 earnings at ($0.05) EPS.
Energen Corp. (NYSE:EGN) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.09. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The company had revenue of $105.80 million for the quarter, compared to analysts’ expectations of $144.31 million. During the same period last year, the firm earned $0.10 earnings per share. Energen Corp.’s quarterly revenue was down 37.1% on a year-over-year basis.
EGN has been the subject of a number of other reports. Stifel Nicolaus upped their price objective on Energen Corp. from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. RBC Capital Markets restated a “sector perform” rating and set a $54.00 price objective (up from $50.00) on shares of Energen Corp. in a report on Thursday, August 11th. Deutsche Bank AG upped their price objective on Energen Corp. from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Tuesday, June 14th. Royal Bank Of Canada upped their price objective on Energen Corp. from $50.00 to $54.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 10th. Finally, Barclays PLC began coverage on Energen Corp. in a report on Tuesday, June 21st. They set an “equal weight” rating and a $50.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.39.
Shares of Energen Corp. (NYSE:EGN) opened at 59.26 on Monday. The firm has a 50-day moving average price of $56.05 and a 200-day moving average price of $47.94. Energen Corp. has a 1-year low of $20.76 and a 1-year high of $61.98. The firm’s market capitalization is $5.75 billion.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $52.58, for a total value of $537,157.28. Following the sale, the chairman now owns 103,789 shares in the company, valued at $5,457,225.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.02% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC purchased a new stake in shares of Energen Corp. during the second quarter valued at approximately $103,000. Creative Planning raised its stake in shares of Energen Corp. by 875.0% in the second quarter. Creative Planning now owns 3,315 shares of the company’s stock valued at $160,000 after buying an additional 2,975 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of Energen Corp. during the second quarter valued at approximately $202,000. Fruth Investment Management purchased a new stake in shares of Energen Corp. during the second quarter valued at approximately $212,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Energen Corp. during the second quarter valued at approximately $217,000. Institutional investors own 93.37% of the company’s stock.
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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