Energen Corporation (EGN) Expected to Announce Quarterly Sales of $242.17 Million
Equities research analysts expect that Energen Corporation (NYSE:EGN) will report $242.17 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Energen Corporation’s earnings. The lowest sales estimate is $228.24 million and the highest is $258.17 million. Energen Corporation posted sales of $184.39 million during the same quarter last year, which suggests a positive year over year growth rate of 31.3%. The company is expected to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Energen Corporation will report full year sales of $242.17 million for the current fiscal year, with estimates ranging from $891.66 million to $1.02 billion. For the next year, analysts forecast that the company will post sales of $1.20 billion per share, with estimates ranging from $967.90 million to $1.47 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Energen Corporation.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $256.82 million during the quarter, compared to analyst estimates of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. Energen Corporation’s quarterly revenue was up 142.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.28) EPS.
Several research firms have recently weighed in on EGN. Barclays PLC set a $57.00 price objective on Energen Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 15th. ValuEngine upgraded Energen Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Mizuho restated a “buy” rating and set a $69.00 target price on shares of Energen Corporation in a research report on Friday. Williams Capital set a $76.00 target price on Energen Corporation and gave the company a “buy” rating in a research report on Tuesday, August 8th. Finally, Citigroup Inc. decreased their target price on Energen Corporation from $58.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.63.
Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning grew its stake in shares of Energen Corporation by 8.0% in the 2nd quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 250 shares in the last quarter. Optimum Investment Advisors bought a new position in shares of Energen Corporation during the second quarter valued at about $228,000. Laurion Capital Management LP bought a new position in shares of Energen Corporation during the first quarter valued at about $229,000. Oppenheimer Asset Management Inc. bought a new position in shares of Energen Corporation during the first quarter valued at about $231,000. Finally, Capital Insight Partners LLC bought a new position in shares of Energen Corporation during the second quarter valued at about $237,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.
Energen Corporation (EGN) opened at 54.91 on Tuesday. Energen Corporation has a 52 week low of $46.16 and a 52 week high of $64.44. The firm has a 50-day moving average of $51.61 and a 200-day moving average of $52.19. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 86.88 and a beta of 1.95.
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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