FY2017 Earnings Estimate for Energen Corporation Issued By Imperial Capital (EGN)
Energen Corporation (NYSE:EGN) – Equities researchers at Imperial Capital upped their FY2017 earnings per share estimates for shares of Energen Corporation in a research note issued to investors on Thursday. Imperial Capital analyst I. Haas now expects that the oil and gas producer will post earnings of $0.46 per share for the year, up from their previous estimate of $0.35. Imperial Capital has a “Outperform” rating and a $61.00 price objective on the stock. Imperial Capital also issued estimates for Energen Corporation’s Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.44 EPS and Q4 2018 earnings at $0.50 EPS.
Energen Corporation (NYSE:EGN) last released its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. Energen Corporation had a negative net margin of 1.17% and a negative return on equity of 0.45%. The business had revenue of $191.50 million for the quarter, compared to analyst estimates of $242.81 million. During the same period in the previous year, the company earned ($0.22) earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis.
Several other equities analysts have also issued reports on EGN. J P Morgan Chase & Co lowered shares of Energen Corporation from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $60.00 to $53.00 in a report on Thursday, July 20th. Citigroup Inc. lifted their price target on shares of Energen Corporation from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. ValuEngine raised shares of Energen Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered shares of Energen Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Williams Capital set a $76.00 price target on shares of Energen Corporation and gave the stock a “buy” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $65.48.
Energen Corporation (NYSE:EGN) opened at $56.82 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.58 and a debt-to-equity ratio of 0.24. Energen Corporation has a 1-year low of $46.16 and a 1-year high of $64.44.
A number of large investors have recently bought and sold shares of EGN. Creative Planning boosted its holdings in Energen Corporation by 8.0% in the second quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock valued at $167,000 after purchasing an additional 250 shares during the last quarter. Cadence Capital Management LLC acquired a new position in shares of Energen Corporation in the third quarter worth about $203,000. Ironwood Investment Counsel LLC acquired a new position in shares of Energen Corporation in the third quarter worth about $219,000. Optimum Investment Advisors acquired a new position in shares of Energen Corporation in the second quarter worth about $228,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Energen Corporation in the first quarter worth about $231,000. 99.44% of the stock is currently owned by institutional investors.
About Energen Corporation
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.
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