Equities Analysts Set Expectations for Energen Corporation’s FY2018 Earnings (EGN)
Energen Corporation (NYSE:EGN) – Investment analysts at SunTrust Banks upped their FY2018 earnings per share estimates for shares of Energen Corporation in a research report issued to clients and investors on Thursday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will post earnings of $1.73 per share for the year, up from their prior forecast of $1.57. SunTrust Banks currently has a “Buy” rating and a $70.00 price target on the stock. SunTrust Banks also issued estimates for Energen Corporation’s FY2019 earnings at $2.94 EPS and FY2020 earnings at $3.53 EPS.
Energen Corporation (NYSE:EGN) last released its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $256.82 million for the quarter, compared to the consensus estimate of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The business’s quarterly revenue was up 142.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.28) earnings per share.
Several other equities analysts have also recently issued reports on the company. Wunderlich reaffirmed a “buy” rating and set a $83.00 price objective on shares of Energen Corporation in a report on Wednesday, June 21st. Williams Capital boosted their target price on Energen Corporation from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Scotiabank reissued a “buy” rating and issued a $56.00 target price on shares of Energen Corporation in a report on Friday, June 30th. Stifel Nicolaus reissued a “buy” rating and issued a $79.00 target price on shares of Energen Corporation in a report on Sunday, September 3rd. Finally, Mizuho restated a “buy” rating and issued a $69.00 price target on shares of Energen Corporation in a research report on Friday. 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 company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.63.
Shares of Energen Corporation (EGN) traded down 0.56% during mid-day trading on Monday, hitting $54.60. The stock had a trading volume of 730,835 shares. The stock has a 50 day moving average price of $51.61 and a 200-day moving average price of $52.19. The company has a market cap of $5.31 billion, a PE ratio of 86.39 and a beta of 1.95. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.44.
Several hedge funds and other institutional investors have recently bought and sold shares of EGN. Creative Planning boosted its position in shares of Energen Corporation by 8.0% in the second 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 during the last quarter. Laurion Capital Management LP purchased a new stake in Energen Corporation in the first quarter valued at approximately $229,000. Oppenheimer Asset Management Inc. purchased a new stake in Energen Corporation in the first quarter valued at approximately $231,000. Optimum Investment Advisors purchased a new stake in Energen Corporation in the second quarter valued at approximately $228,000. Finally, Capital Insight Partners LLC purchased a new stake in Energen Corporation in the second quarter valued at approximately $237,000. 94.01% of the stock is 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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