Energen Co. (NYSE:EGN) – Equities researchers at Jefferies Financial Group cut their Q3 2018 earnings per share (EPS) estimates for Energen in a report issued on Monday, June 11th, Zacks Investment Research reports. Jefferies Financial Group analyst M. Lear now forecasts that the oil and gas producer will post earnings of $0.84 per share for the quarter, down from their prior forecast of $0.88. Jefferies Financial Group currently has a “Buy” rating and a $79.00 target price on the stock. Jefferies Financial Group also issued estimates for Energen’s Q1 2020 earnings at $1.71 EPS and FY2020 earnings at $7.18 EPS.
Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. set a $62.00 price objective on shares of Energen and gave the stock a “sell” rating in a report on Monday, March 5th. Imperial Capital reiterated an “outperform” rating and issued a $72.00 target price (up previously from $68.00) on shares of Energen in a report on Wednesday, February 21st. Stifel Nicolaus set a $98.00 target price on shares of Energen and gave the company a “buy” rating in a report on Tuesday, April 24th. UBS Group assumed coverage on shares of Energen in a report on Wednesday, March 7th. They issued a “neutral” rating and a $62.00 target price for the company. Finally, ValuEngine upgraded shares of Energen from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $72.52.
Energen opened at $64.84 on Wednesday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.48 and a current ratio of 0.53. Energen has a 1-year low of $46.16 and a 1-year high of $71.97. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 37.92 and a beta of 1.40.
Energen (NYSE:EGN) last released its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.04. Energen had a net margin of 34.60% and a return on equity of 4.95%. The firm had revenue of $356.17 million for the quarter, compared to the consensus estimate of $335.96 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The business’s revenue was up 47.8% on a year-over-year basis.
In related news, Chairman J T. Mcmanus sold 3,116 shares of the stock in a transaction dated 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 transaction, the chairman now owns 115,794 shares in the company, valued at $6,722,999.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David A. Godsey sold 4,800 shares of the stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $70.00, for a total transaction of $336,000.00. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Allianz Asset Management GmbH boosted its position in Energen by 7.7% during the first quarter. Allianz Asset Management GmbH now owns 180,029 shares of the oil and gas producer’s stock worth $11,317,000 after purchasing an additional 12,908 shares during the period. Principal Financial Group Inc. boosted its position in Energen by 2.5% during the first quarter. Principal Financial Group Inc. now owns 423,854 shares of the oil and gas producer’s stock worth $26,643,000 after purchasing an additional 10,518 shares during the period. Legal & General Group Plc boosted its position in Energen by 3.7% during the first quarter. Legal & General Group Plc now owns 127,410 shares of the oil and gas producer’s stock worth $8,009,000 after purchasing an additional 4,505 shares during the period. Highbridge Capital Management LLC bought a new position in Energen during the first quarter worth about $2,200,000. Finally, PointState Capital LP bought a new position in Energen during the first quarter worth about $19,329,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.
Energen Company Profile
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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