Williams Capital Analysts Cut Earnings Estimates for Energen Corp. (EGN)
Energen Corp. (NYSE:EGN) – Williams Capital decreased their FY2018 earnings per share estimates for Energen Corp. in a report released on Monday. Williams Capital analyst G. Sorbara now expects that the firm will post earnings of $1.66 per share for the year, down from their previous estimate of $1.73. Williams Capital currently has a “Buy” rating and a $68.00 price target on the stock.
Energen Corp. (NYSE:EGN) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. The business earned $105.80 million during the quarter, compared to the consensus estimate of $144.31 million. During the same quarter last year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was down 37.1% compared to the same quarter last year.
A number of other analysts also recently weighed in on the stock. Tudor Pickering raised shares of Energen Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. Zacks Investment Research raised shares of Energen Corp. from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday, August 5th. KeyCorp upped their target price on shares of Energen Corp. from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Nomura upped their target price on shares of Energen Corp. from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 13th. Finally, Credit Suisse Group AG upped their target price on shares of Energen Corp. from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 21st. Twelve investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $57.43.
Energen Corp. (NYSE:EGN) traded down 0.8015% during mid-day trading on Tuesday, reaching $56.3646. 560,133 shares of the company were exchanged. Energen Corp. has a one year low of $20.76 and a one year high of $61.98. The company’s market capitalization is $5.47 billion. The stock has a 50-day moving average price of $56.28 and a 200 day moving average price of $48.67.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ClariVest Asset Management LLC purchased a new position in Energen Corp. during the second quarter worth approximately $103,000. Creative Planning increased its position in 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 Energen Corp. during the second quarter worth approximately $202,000. Fruth Investment Management purchased a new position in Energen Corp. during the second quarter worth approximately $212,000. Finally, Hsbc Holdings PLC purchased a new position in Energen Corp. during the second quarter worth approximately $217,000. Hedge funds and other institutional investors own 93.34% of the company’s stock.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $52.58, for a total transaction of $537,157.28. Following the completion of the sale, the chairman now directly owns 103,789 shares of the company’s stock, valued at approximately $5,457,225.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.02% 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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