FY2017 Earnings Estimate for Energen Co. Issued By Seaport Global Securities (EGN)

Energen Co. (NYSE:EGN) – Seaport Global Securities upped their FY2017 earnings estimates for Energen in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas producer will earn $0.51 per share for the year, up from their previous forecast of $0.31. Seaport Global Securities also issued estimates for Energen’s Q4 2017 earnings at $0.38 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.62 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.59 EPS and FY2018 earnings at $2.40 EPS.

Energen (NYSE:EGN) last released its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. The firm had revenue of $191.50 million during the quarter, compared to analyst estimates of $242.81 million. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.22) EPS.

A number of other research firms have also weighed in on EGN. Citigroup boosted their target price on shares of Energen from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Jefferies Group started coverage on shares of Energen in a research report on Monday, October 9th. They set a “buy” rating and a $68.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $59.00 target price (up previously from $56.00) on shares of Energen in a research report on Thursday, November 9th. Bank of America started coverage on shares of Energen in a research report on Monday, October 16th. They set a “neutral” rating for the company. Finally, Barclays boosted their target price on shares of Energen from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Energen currently has a consensus rating of “Hold” and a consensus price target of $64.81.

Energen (NYSE:EGN) opened at $57.75 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24. Energen has a 52-week low of $46.16 and a 52-week high of $60.21.

In related news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $57.01, for a total value of $142,525.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lori A. Lancaster bought 1,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was acquired at an average cost of $57.79 per share, for a total transaction of $57,790.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at $57,790. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EGN. Victory Capital Management Inc. increased its stake in Energen by 34.9% in the second quarter. Victory Capital Management Inc. now owns 3,832,506 shares of the oil and gas producer’s stock valued at $189,211,000 after acquiring an additional 990,600 shares during the period. Cibc World Markets Corp increased its stake in Energen by 1,674.3% in the second quarter. Cibc World Markets Corp now owns 621,000 shares of the oil and gas producer’s stock valued at $30,659,000 after acquiring an additional 586,000 shares during the period. Bank of Nova Scotia bought a new stake in Energen in the second quarter valued at about $20,241,000. Scout Investments Inc. bought a new stake in Energen in the third quarter valued at about $21,713,000. Finally, Highbridge Capital Management LLC bought a new stake in Energen in the third quarter valued at about $15,830,000. 96.06% of the stock is currently owned by institutional investors and hedge funds.

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Energen 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.

Earnings History and Estimates for Energen (NYSE:EGN)

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