Q3 2016 EPS Estimates for Energen Corp. Lowered by Analyst (EGN)
Energen Corp. (NYSE:EGN) – Equities researchers at Williams Capital reduced their Q3 2016 earnings estimates for Energen Corp. in a research report issued on Monday. Williams Capital analyst G. Sorbara now expects that the brokerage will post earnings of ($0.24) per share for the quarter, down from their prior estimate of ($0.17). Williams Capital has a “Buy” rating and a $68.00 price objective on the stock. Williams Capital also issued estimates for Energen Corp.’s FY2016 earnings at ($1.30) EPS and FY2017 earnings at ($0.02) EPS.
Energen Corp. (NYSE:EGN) last released 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. The business earned $105.80 million during the quarter, compared to analyst estimates of $144.31 million. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. The business’s revenue was down 37.1% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS.
A number of other research analysts also recently issued reports on the stock. Tudor Pickering upgraded shares of Energen Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. Zacks Investment Research raised Energen Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, August 5th. KeyCorp upped their price target on Energen Corp. from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, August 22nd. Nomura upped their price target on Energen Corp. from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, October 13th. Finally, Credit Suisse Group AG upped their price target on Energen Corp. from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, June 21st. Twelve equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $57.43.
Energen Corp. (NYSE:EGN) traded up 2.90% on Wednesday, reaching $57.88. 418,656 shares of the company’s stock were exchanged. The stock’s market capitalization is $5.62 billion. Energen Corp. has a 12 month low of $20.76 and a 12 month high of $61.98. The firm has a 50 day moving average of $56.28 and a 200 day moving average of $48.73.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its position in Energen Corp. by 21.3% in the first quarter. BlackRock Fund Advisors now owns 3,362,166 shares of the company’s stock valued at $123,022,000 after buying an additional 589,613 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Energen Corp. by 340.0% in the first quarter. Goldman Sachs Group Inc. now owns 659,076 shares of the company’s stock worth $24,116,000 after buying an additional 509,271 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Energen Corp. by 3,371.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 520,790 shares of the company’s stock worth $19,056,000 after buying an additional 505,790 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Energen Corp. by 18.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,772,451 shares of the company’s stock worth $101,444,000 after buying an additional 423,441 shares during the last quarter. Finally, Advisory Research Inc. bought a new position in shares of Energen Corp. during the second quarter worth approximately $20,125,000. 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 on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total transaction of $537,157.28. Following the transaction, the chairman now owns 103,789 shares in the company, valued at approximately $5,457,225.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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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