Energen Co. (NYSE:EGN) – Stock analysts at Jefferies Group boosted their FY2018 EPS estimates for shares of Energen in a research report issued on Monday. Jefferies Group analyst M. Lear now expects that the oil and gas producer will post earnings of $3.49 per share for the year, up from their previous estimate of $3.48. Jefferies Group currently has a “Buy” rating and a $80.00 price objective on the stock. Jefferies Group also issued estimates for Energen’s Q1 2019 earnings at $1.13 EPS, Q2 2019 earnings at $1.19 EPS, Q3 2019 earnings at $1.23 EPS, Q4 2019 earnings at $1.27 EPS and FY2019 earnings at $4.81 EPS.
EGN has been the topic of a number of other research reports. Mizuho set a $72.00 target price on Energen and gave the stock a “buy” rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. downgraded Energen from a “neutral” rating to an “underweight” rating and set a $57.00 price target on the stock. in a report on Friday, December 15th. Scotiabank reissued a “buy” rating and issued a $63.00 price target on shares of Energen in a report on Wednesday, November 22nd. KeyCorp set a $70.00 price target on Energen and gave the stock a “buy” rating in a report on Sunday, January 21st. Finally, Stifel Nicolaus set a $85.00 price target on Energen and gave the stock a “buy” rating in a report on Monday, January 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $67.36.
EGN stock opened at $59.99 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23. Energen has a 1-year low of $46.16 and a 1-year high of $60.07. The company has a market capitalization of $5,401.09, a P/E ratio of 18.03 and a beta of 1.61.
Energen (NYSE:EGN) last released its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $303.95 million. During the same quarter last year, the business posted ($0.27) EPS. Energen’s quarterly revenue was up 137.3% compared to the same quarter last year.
In other Energen news, Director Jonathan Z. Cohen bought 17,500 shares of the business’s stock in a transaction on Friday, March 9th. The shares were purchased at an average price of $57.36 per share, with a total value of $1,003,800.00. Following the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at $1,003,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lori A. Lancaster bought 1,000 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were acquired at an average cost of $57.79 per share, for a total transaction of $57,790.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $57,790. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Energen by 86.2% during the 4th quarter. Millennium Management LLC now owns 2,928,514 shares of the oil and gas producer’s stock valued at $168,595,000 after purchasing an additional 1,355,480 shares during the period. Franklin Resources Inc. increased its position in shares of Energen by 12.2% during the 4th quarter. Franklin Resources Inc. now owns 1,438,419 shares of the oil and gas producer’s stock valued at $82,810,000 after purchasing an additional 156,665 shares during the period. Systematic Financial Management LP increased its position in shares of Energen by 2.2% during the 4th quarter. Systematic Financial Management LP now owns 1,344,013 shares of the oil and gas producer’s stock valued at $77,375,000 after purchasing an additional 29,302 shares during the period. Geode Capital Management LLC increased its position in shares of Energen by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 841,735 shares of the oil and gas producer’s stock valued at $48,458,000 after purchasing an additional 44,982 shares during the period. Finally, Advisory Research Inc. increased its position in shares of Energen by 29.4% during the 4th quarter. Advisory Research Inc. now owns 799,611 shares of the oil and gas producer’s stock valued at $46,034,000 after purchasing an additional 181,685 shares during the period. Institutional investors own 93.57% of the company’s stock.
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.
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