Wall Street brokerages expect that Energen Co. (NYSE:EGN) will post $0.79 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Energen’s earnings. The highest EPS estimate is $0.96 and the lowest is $0.54. Energen posted earnings of $0.20 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 295%. The firm is expected to issue its next earnings results on Wednesday, November 14th.
On average, analysts expect that Energen will report full year earnings of $3.36 per share for the current financial year, with EPS estimates ranging from $2.57 to $3.84. For the next financial year, analysts expect that the business will report earnings of $4.77 per share, with EPS estimates ranging from $1.19 to $6.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Energen.
Energen (NYSE:EGN) last announced its quarterly earnings data on Tuesday, August 7th. The oil and gas producer reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $339.65 million during the quarter, compared to analysts’ expectations of $336.78 million. Energen had a return on equity of 6.83% and a net margin of 35.43%.
Several brokerages have recently issued reports on EGN. SunTrust Banks set a $85.00 price target on Energen and gave the company a “buy” rating in a research report on Monday, April 16th. Morgan Stanley raised their target price on shares of Energen from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 20th. Zacks Investment Research raised shares of Energen from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Tuesday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of Energen from $68.00 to $67.00 and set a “sell” rating for the company in a research report on Tuesday, May 22nd. Finally, Jefferies Financial Group set a $85.00 target price on shares of Energen and gave the stock a “buy” rating in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $72.89.
EGN traded up $0.02 during trading on Friday, reaching $72.23. 705,724 shares of the stock were exchanged, compared to its average volume of 914,050. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.48 and a current ratio of 0.57. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 96.31 and a beta of 1.30. Energen has a 1 year low of $47.77 and a 1 year high of $78.30.
In related news, insider Carl C. Icahn bought 225,706 shares of the company’s stock in a transaction dated Thursday, June 21st. The shares were acquired at an average price of $63.70 per share, with a total value of $14,377,472.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carl C. Icahn bought 375,415 shares of the company’s stock in a transaction dated Tuesday, June 26th. The stock was bought at an average cost of $67.70 per share, for a total transaction of $25,415,595.50. The disclosure for this purchase can be found here. Insiders have acquired 3,026,727 shares of company stock worth $215,652,858 in the last quarter. Company insiders own 1.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in EGN. Bray Capital Advisors acquired a new position in shares of Energen during the 2nd quarter worth about $124,000. Cerebellum GP LLC acquired a new position in Energen in the second quarter valued at $188,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Energen in the second quarter valued at $196,000. Canandaigua National Bank & Trust Co. acquired a new position in Energen in the second quarter valued at $203,000. Finally, Callahan Advisors LLC acquired a new position in Energen in the second quarter valued at $204,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.
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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