Q3 2017 EPS Estimates for Energen Corporation (EGN) Increased by Analyst
Energen Corporation (NYSE:EGN) – Research analysts at Seaport Global Securities lifted their Q3 2017 earnings per share (EPS) estimates for Energen Corporation in a research report issued on Wednesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will earn $0.14 per share for the quarter, up from their previous forecast of $0.10. Seaport Global Securities currently has a “Neutral” rating and a $46.00 target price on the stock. Seaport Global Securities also issued estimates for Energen Corporation’s FY2017 earnings at $0.31 EPS.
A number of other analysts also recently commented on the company. Morgan Stanley upped their price objective on Energen Corporation from $52.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, August 31st. Citigroup Inc. dropped their price objective on Energen Corporation from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, July 13th. Stifel Nicolaus restated a “buy” rating and set a $79.00 price objective on shares of Energen Corporation in a report on Sunday, September 3rd. J P Morgan Chase & Co downgraded Energen Corporation from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $60.00 to $53.00 in a report on Thursday, July 20th. Finally, Scotiabank restated a “buy” rating and set a $56.00 price objective on shares of Energen Corporation in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $66.00.
Energen Corporation (EGN) opened at 52.67 on Friday. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.44. The stock’s 50 day moving average price is $52.97 and its 200 day moving average price is $52.26. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 83.34 and a beta of 1.95.
Energen Corporation (NYSE:EGN) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The business had revenue of $256.82 million during the quarter, compared to analyst estimates of $222.60 million. During the same period last year, the business posted ($0.28) earnings per share. The company’s quarterly revenue was up 142.8% on a year-over-year basis.
Several hedge funds have recently modified their holdings of the company. Shell Asset Management Co. lifted its position in shares of Energen Corporation by 1,441.1% during the third quarter. Shell Asset Management Co. now owns 13,284 shares of the oil and gas producer’s stock worth $960,000 after purchasing an additional 12,422 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Energen Corporation during the second quarter worth about $584,000. Public Employees Retirement System of Ohio lifted its position in shares of Energen Corporation by 11.1% during the second quarter. Public Employees Retirement System of Ohio now owns 48,901 shares of the oil and gas producer’s stock worth $2,414,000 after purchasing an additional 4,900 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Energen Corporation by 1.0% during the second quarter. Ameritas Investment Partners Inc. now owns 44,447 shares of the oil and gas producer’s stock worth $2,194,000 after purchasing an additional 433 shares during the last quarter. Finally, Americafirst Capital Management LLC bought a new position in shares of Energen Corporation during the second quarter worth about $1,258,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.
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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