Zacks: Analysts Anticipate Energen Corporation (EGN) to Post $0.08 EPS
Brokerages predict that Energen Corporation (NYSE:EGN) will announce earnings per share (EPS) of $0.08 for the current quarter, Zacks reports. Seven analysts have made estimates for Energen Corporation’s earnings, with estimates ranging from $0.03 to $0.21. Energen Corporation reported earnings per share of ($0.28) in the same quarter last year, which suggests a positive year-over-year growth rate of 128.6%. The firm is expected to announce its next earnings report before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that Energen Corporation will report full year earnings of $0.51 per share for the current fiscal year, with EPS estimates ranging from $0.28 to $1.30. For the next year, analysts anticipate that the business will post earnings of $1.46 per share, with EPS estimates ranging from $0.38 to $3.44. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Energen Corporation.
Energen Corporation (NYSE:EGN) last issued its earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $240.90 million for the quarter, compared to analyst estimates of $166.69 million. Energen Corporation had a negative return on equity of 2.79% and a net margin of 10.69%. The business’s revenue for the quarter was up 87.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.64) EPS.
Several research firms recently issued reports on EGN. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $73.00 price target on shares of Energen Corporation in a research note on Friday, June 2nd. Barclays PLC reaffirmed a “hold” rating and set a $63.00 price target on shares of Energen Corporation in a research note on Wednesday, May 24th. Royal Bank Of Canada set a $65.00 price target on shares of Energen Corporation and gave the stock a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $81.00 price target on shares of Energen Corporation in a research note on Friday, May 26th. Finally, Zacks Investment Research downgraded shares of Energen Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, April 4th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.68.
Shares of Energen Corporation (NYSE EGN) traded down 0.65% during trading on Monday, hitting $50.39. 799,664 shares of the company were exchanged. The stock has a market cap of $4.90 billion, a P/E ratio of 71.37 and a beta of 1.93. The company’s 50-day moving average price is $51.01 and its 200 day moving average price is $53.27. Energen Corporation has a 12 month low of $43.70 and a 12 month high of $64.43.
In other news, Director Alan A. Kleier bought 1,000 shares of Energen Corporation stock in a transaction on Friday, June 23rd. The stock was purchased at an average cost of $47.59 per share, with a total value of $47,590.00. Following the purchase, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $71,385. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of EGN. Renaissance Technologies LLC bought a new stake in Energen Corporation during the fourth quarter worth approximately $10,133,000. Two Sigma Investments LP bought a new stake in Energen Corporation during the fourth quarter worth approximately $411,000. Guggenheim Capital LLC increased its stake in Energen Corporation by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 17,899 shares of the oil and gas producer’s stock worth $1,032,000 after buying an additional 2,424 shares during the period. Thrivent Financial for Lutherans increased its stake in Energen Corporation by 8.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,510 shares of the oil and gas producer’s stock worth $952,000 after buying an additional 1,280 shares during the period. Finally, Norges Bank bought a new stake in Energen Corporation during the fourth quarter worth approximately $41,885,000. 95.08% of the stock is owned by hedge funds and other institutional investors.
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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