Energen (EGN) Expected to Announce Earnings of $0.74 Per Share

Wall Street brokerages expect Energen (NYSE:EGN) to announce earnings per share (EPS) of $0.74 for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Energen’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.86. Energen reported earnings per share of ($0.13) during the same quarter last year, which would suggest a positive year-over-year growth rate of 669.2%. The company is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, May 8th.

On average, analysts expect that Energen will report full year earnings of $3.39 per share for the current year, with EPS estimates ranging from $1.89 to $4.23. For the next financial year, analysts forecast that the company will post earnings of $4.69 per share, with EPS estimates ranging from $2.45 to $6.23. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Energen.

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Energen (NYSE:EGN) last issued its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.22. The business had revenue of $271.80 million during the quarter, compared to analyst estimates of $303.95 million. Energen had a net margin of 30.12% and a return on equity of 2.27%. The firm’s quarterly revenue was up 137.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.27) EPS.

A number of research analysts recently issued reports on EGN shares. Seaport Global Securities upgraded shares of Energen from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Morgan Stanley upgraded shares of Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective for the company in a report on Wednesday, January 24th. KeyCorp set a $70.00 price objective on shares of Energen and gave the company a “buy” rating in a report on Sunday, January 21st. JPMorgan Chase set a $62.00 price objective on shares of Energen and gave the company a “sell” rating in a report on Monday, March 5th. Finally, ValuEngine lowered shares of Energen from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $69.00.

NYSE EGN traded up $2.55 during trading hours on Friday, reaching $68.17. The company’s stock had a trading volume of 1,454,707 shares, compared to its average volume of 1,080,668. The firm has a market cap of $6,350.79, a PE ratio of 90.89 and a beta of 1.41. Energen has a 52 week low of $46.16 and a 52 week high of $69.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.55.

In other news, Chairman J T. Mcmanus sold 3,116 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $58.06, for a total transaction of $180,914.96. Following the completion of the sale, the chairman now owns 115,794 shares of the company’s stock, valued at approximately $6,722,999.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan Z. Cohen acquired 17,500 shares of Energen stock in a transaction dated Friday, March 9th. The shares were bought at an average cost of $57.36 per share, with a total value of $1,003,800.00. Following the transaction, the director now owns 17,500 shares in the company, valued at $1,003,800. The disclosure for this purchase can be found here. Company insiders own 1.05% of the company’s stock.

Several hedge funds have recently made changes to their positions in EGN. SeaCrest Wealth Management LLC acquired a new stake in shares of Energen during the 4th quarter worth approximately $109,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Energen during the 4th quarter worth approximately $115,000. Cerebellum GP LLC acquired a new stake in shares of Energen during the 4th quarter worth approximately $125,000. Calton & Associates Inc. acquired a new stake in shares of Energen during the 4th quarter worth approximately $185,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Energen during the 4th quarter worth approximately $201,000. 93.58% of the stock is owned by institutional investors.

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About Energen

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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