Equities research analysts expect Energen Co. (NYSE:EGN) to announce earnings per share of $0.05 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Energen’s earnings, with the lowest EPS estimate coming in at ($0.02) and the highest estimate coming in at $0.11. Energen posted earnings of ($0.28) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 117.9%. The business is scheduled to report its next quarterly earnings results on Monday, August 14th.
On average, analysts expect that Energen will report full-year earnings of $0.59 per share for the current financial year, with EPS estimates ranging from $0.19 to $1.16. For the next year, analysts anticipate that the company will report earnings of $2.22 per share, with EPS estimates ranging from $0.88 to $3.33. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Energen.
Energen (NYSE:EGN) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. The business earned $240.90 million during the quarter, compared to analyst estimates of $166.69 million. Energen had a negative return on equity of 4.19% and a negative net margin of 31.43%. The company’s quarterly revenue was up 87.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.64) EPS.
Several brokerages recently weighed in on EGN. BMO Capital Markets restated a “hold” rating and issued a $70.00 price objective on shares of Energen in a report on Wednesday, January 11th. Zacks Investment Research upgraded shares of Energen from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Tuesday, February 14th. Canaccord Genuity restated a “buy” rating and issued a $72.00 price objective on shares of Energen in a report on Wednesday, January 18th. Stifel Nicolaus restated a “buy” rating and issued a $80.00 price objective on shares of Energen in a report on Thursday, April 13th. Finally, Deutsche Bank AG cut their price objective on shares of Energen from $64.00 to $62.00 and set a “hold” rating on the stock in a report on Tuesday, March 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $64.91.
In other news, insider John S. Richardson sold 3,733 shares of the stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $57.11, for a total transaction of $213,191.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Charles W. Porter sold 6,000 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $54.60, for a total transaction of $327,600.00. The disclosure for this sale can be found here. Insiders have sold 32,895 shares of company stock valued at $1,831,492 in the last three months. 1.02% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Energen by 33.3% in the third quarter. Victory Capital Management Inc. now owns 2,308,249 shares of the oil and gas producer’s stock valued at $133,233,000 after buying an additional 576,299 shares in the last quarter. Northern Trust Corp increased its stake in shares of Energen by 2.8% in the third quarter. Northern Trust Corp now owns 826,573 shares of the oil and gas producer’s stock valued at $47,711,000 after buying an additional 22,597 shares in the last quarter. Norges Bank bought a new stake in shares of Energen during the fourth quarter valued at about $41,885,000. Advisory Research Inc. increased its stake in shares of Energen by 14.0% in the fourth quarter. Advisory Research Inc. now owns 605,761 shares of the oil and gas producer’s stock valued at $34,934,000 after buying an additional 74,590 shares in the last quarter. Finally, Samlyn Capital LLC increased its stake in shares of Energen by 3.6% in the third quarter. Samlyn Capital LLC now owns 548,400 shares of the oil and gas producer’s stock valued at $31,653,000 after buying an additional 18,926 shares in the last quarter. 92.70% of the stock is owned by institutional investors.
Energen (NYSE:EGN) traded up 4.48% on Wednesday, reaching $52.48. 2,560,416 shares of the company’s stock traded hands. The firm’s market capitalization is $5.10 billion. The firm’s 50 day moving average price is $52.91 and its 200 day moving average price is $54.90. Energen has a 52-week low of $38.11 and a 52-week high of $64.44.
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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