Energen Co. to Post FY2017 Earnings of $0.54 Per Share, SunTrust Banks Forecasts (EGN)
Energen Co. (NYSE:EGN) – Analysts at SunTrust Banks raised their FY2017 earnings per share (EPS) estimates for Energen in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will post earnings per share of $0.54 for the year, up from their previous forecast of $0.47. SunTrust Banks also issued estimates for Energen’s Q4 2017 earnings at $0.41 EPS.
EGN has been the subject of several other research reports. Credit Suisse Group began coverage on shares of Energen in a research report on Monday, December 11th. They set a “neutral” rating and a $60.00 price target for the company. Stifel Nicolaus set a $85.00 price target on shares of Energen and gave the company a “buy” rating in a research report on Monday, January 29th. ValuEngine lowered shares of Energen from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Seaport Global Securities upgraded shares of Energen from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Finally, Zacks Investment Research upgraded shares of Energen from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Energen currently has a consensus rating of “Buy” and a consensus price target of $66.29.
Several institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC lifted its holdings in shares of Energen by 2.3% in the second quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock worth $264,000 after buying an additional 119 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Energen by 1.0% in 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 buying an additional 433 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Energen by 32.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,813 shares of the oil and gas producer’s stock worth $335,000 after buying an additional 1,436 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Energen by 1.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 79,879 shares of the oil and gas producer’s stock worth $4,599,000 after buying an additional 1,485 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Energen by 11.5% in the third quarter. Pacer Advisors Inc. now owns 15,203 shares of the oil and gas producer’s stock worth $831,000 after buying an additional 1,567 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Corvex Management Lp sold 80,294 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $57.56, for a total value of $4,621,722.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lori A. Lancaster purchased 1,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was purchased at an average cost of $57.79 per share, for a total transaction of $57,790.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $57,790. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.
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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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