Brokerages Expect Energen Corporation (EGN) Will Announce Earnings of $0.14 Per Share
Equities research analysts expect Energen Corporation (NYSE:EGN) to post earnings of $0.14 per share for the current quarter, according to Zacks. Eight analysts have made estimates for Energen Corporation’s earnings, with estimates ranging from $0.05 to $0.24. Energen Corporation posted earnings of ($0.22) per share in the same quarter last year, which would indicate a positive year over year growth rate of 163.6%. The business is expected to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Energen Corporation will report full year earnings of $0.36 per share for the current fiscal year, with EPS estimates ranging from $0.17 to $0.74. For the next year, analysts expect that the firm will report earnings of $1.44 per share, with EPS estimates ranging from $0.47 to $2.69. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Energen Corporation.
Energen Corporation (NYSE:EGN) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The firm had revenue of $256.82 million for the quarter, compared to analysts’ expectations of $222.60 million. During the same period in the prior year, the firm posted ($0.28) earnings per share. The firm’s quarterly revenue was up 142.8% on a year-over-year basis.
EGN has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $70.00 target price on shares of Energen Corporation in a research note on Monday, May 15th. Scotiabank reaffirmed a “buy” rating and issued a $64.00 target price on shares of Energen Corporation in a research note on Monday, May 15th. Williams Capital reaffirmed a “buy” rating and issued a $72.00 target price on shares of Energen Corporation in a research note on Monday, May 15th. Barclays PLC reaffirmed a “hold” rating and issued a $63.00 target price on shares of Energen Corporation in a research note on Wednesday, May 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $81.00 target price on shares of Energen Corporation in a research note on Friday, May 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $65.48.
Energen Corporation (NYSE EGN) traded up 2.14% on Tuesday, reaching $52.12. The company had a trading volume of 923,618 shares. The stock has a market capitalization of $5.07 billion, a PE ratio of 82.47 and a beta of 1.94. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.44. The stock has a 50 day moving average price of $50.66 and a 200 day moving average price of $52.04.
In other Energen Corporation news, Director Alan A. Kleier bought 1,000 shares of Energen Corporation stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average price of $47.59 per share, for a total transaction of $47,590.00. Following the acquisition, the director now owns 1,500 shares of the company’s stock, valued at approximately $71,385. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its holdings in Energen Corporation by 11.7% in the 1st quarter. Morgan Stanley now owns 226,536 shares of the oil and gas producer’s stock worth $12,333,000 after buying an additional 23,656 shares in the last quarter. CarVal Investors LLC acquired a new position in Energen Corporation in the 1st quarter worth $5,444,000. Janus Capital Management LLC lifted its holdings in Energen Corporation by 60.5% in the 1st quarter. Janus Capital Management LLC now owns 56,000 shares of the oil and gas producer’s stock worth $3,049,000 after buying an additional 21,100 shares in the last quarter. Rafferty Asset Management LLC acquired a new position in Energen Corporation in the 1st quarter worth $909,000. Finally, Elliott Management Corp acquired a new position in Energen Corporation in the 1st quarter worth $46,274,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.
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Energen Corporation Company Profile
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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