Energen Forecasted to Post Q1 2018 Earnings of $0.76 Per Share (EGN)
Energen (NYSE:EGN) – Equities research analysts at SunTrust Banks upped their Q1 2018 earnings per share estimates for Energen in a report released on Monday, April 16th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings per share of $0.76 for the quarter, up from their prior estimate of $0.62. SunTrust Banks currently has a “Buy” rating and a $85.00 price target on the stock. SunTrust Banks also issued estimates for Energen’s Q2 2018 earnings at $0.75 EPS.
Energen (NYSE:EGN) last issued its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.22. Energen had a return on equity of 2.27% and a net margin of 30.12%. The company had revenue of $271.80 million for the quarter, compared to analysts’ expectations of $303.95 million. During the same period in the previous year, the firm posted ($0.27) earnings per share. The firm’s revenue for the quarter was up 137.3% on a year-over-year basis.
EGN opened at $65.20 on Tuesday. The company has a market cap of $6,351.76, a PE ratio of 86.93 and a beta of 1.41. Energen has a one year low of $46.16 and a one year high of $66.01. The company has a current ratio of 0.59, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23.
In related news, Director Jonathan Z. Cohen bought 17,500 shares of the stock in a transaction on Friday, March 9th. The stock was bought at an average price of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the acquisition, the director now directly owns 17,500 shares in the company, valued at $1,003,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Godsey sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $57.77, for a total value of $346,620.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of EGN. Millennium Management LLC lifted its holdings in Energen by 86.2% during the fourth quarter. Millennium Management LLC now owns 2,928,514 shares of the oil and gas producer’s stock worth $168,595,000 after buying an additional 1,355,480 shares during the period. SIR Capital Management L.P. purchased a new stake in Energen during the fourth quarter worth $14,309,000. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in Energen by 473.3% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 245,961 shares of the oil and gas producer’s stock worth $14,160,000 after buying an additional 203,061 shares during the period. Advisory Research Inc. lifted its holdings in Energen by 29.4% during the fourth quarter. Advisory Research Inc. now owns 799,611 shares of the oil and gas producer’s stock worth $46,034,000 after buying an additional 181,685 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Energen by 12.2% during the fourth quarter. Franklin Resources Inc. now owns 1,438,419 shares of the oil and gas producer’s stock worth $82,810,000 after buying an additional 156,665 shares during the period. Institutional investors own 93.58% of the company’s stock.
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Energen Company Profile
Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations 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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