Energen Co. (NYSE:EGN) – Jefferies Group increased their FY2017 earnings per share estimates for Energen in a research report issued on Wednesday. Jefferies Group analyst M. Lear now expects that the oil and gas producer will post earnings per share of $0.50 for the year, up from their prior estimate of $0.47. Jefferies Group has a “Buy” rating and a $68.00 price objective on the stock. Jefferies Group also issued estimates for Energen’s Q1 2019 earnings at $0.58 EPS, Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.61 EPS and FY2019 earnings at $2.42 EPS.
Several other analysts have also commented on EGN. Wells Fargo & Company initiated coverage on shares of Energen in a research report on Friday, December 1st. They set a “hold” rating on the stock. Credit Suisse Group initiated coverage on shares of Energen in a research report on Monday, December 11th. They set a “neutral” rating and a $60.00 price objective for the company. Zacks Investment Research upgraded shares of Energen from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Thursday, October 12th. Stifel Nicolaus restated a “buy” rating and set a $79.00 price objective on shares of Energen in a research report on Sunday, September 3rd. Finally, Mizuho restated a “buy” rating and set a $69.00 price objective on shares of Energen in a research report on Friday, September 29th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Energen has an average rating of “Hold” and a consensus target price of $64.81.
Energen (NYSE:EGN) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The business had revenue of $191.50 million for the quarter, compared to analyst estimates of $242.81 million. Energen had a negative return on equity of 0.45% and a negative net margin of 1.17%. Energen’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) EPS.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cibc World Markets Corp grew its holdings in shares of 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 in the last quarter. Bank of Nova Scotia purchased a new stake in Energen in the 2nd quarter valued at $20,241,000. Scout Investments Inc. purchased a new stake in Energen in the 3rd quarter valued at $21,713,000. Highbridge Capital Management LLC purchased a new stake in Energen in the 3rd quarter valued at $15,830,000. Finally, Caxton Associates LP purchased a new stake in Energen in the 2nd quarter valued at $13,911,000. 96.06% of the stock is currently owned by institutional investors.
In other Energen news, Director Lori A. Lancaster purchased 1,000 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were bought at an average cost of $57.79 per share, with a total value of $57,790.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $57,790. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel J David Woodruff, Jr. sold 2,500 shares of Energen stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $57.01, for a total value of $142,525.00. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
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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