Analysts predict that Energen Co. (NYSE:EGN) will post sales of $301.71 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Energen’s earnings. The highest sales estimate is $323.03 million and the lowest is $285.81 million. Energen reported sales of $114.52 million in the same quarter last year, which would suggest a positive year over year growth rate of 163.5%. The firm is expected to issue its next earnings report on Thursday, February 8th.
On average, analysts expect that Energen will report full-year sales of $301.71 million for the current financial year, with estimates ranging from $936.00 million to $985.20 million. For the next year, analysts expect that the firm will report sales of $1.36 billion per share, with estimates ranging from $1.21 billion to $1.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Energen.
Energen (NYSE:EGN) last announced its quarterly earnings data on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. The business had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $242.81 million. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.22) earnings per share.
A number of equities research analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Energen in a report on Monday, December 11th. They issued a “neutral” rating and a $60.00 price objective on the stock. Mizuho restated a “buy” rating and issued a $69.00 price objective on shares of Energen in a report on Friday, September 29th. Zacks Investment Research upgraded shares of Energen from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, October 12th. Stifel Nicolaus set a $80.00 price target on shares of Energen and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, JPMorgan Chase & Co. cut shares of 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. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. Energen has an average rating of “Hold” and a consensus price target of $64.81.
In related news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $57.01, for a total value of $142,525.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lori A. Lancaster bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was bought at an average price of $57.79 per share, for a total transaction of $57,790.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $57,790. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Cadence Capital Management LLC bought a new position in Energen in the third quarter worth approximately $203,000. BB&T Securities LLC bought a new position in Energen in the third quarter worth approximately $206,000. Boothbay Fund Management LLC bought a new position in Energen in the third quarter worth approximately $209,000. Ironwood Investment Counsel LLC bought a new position in Energen in the third quarter worth approximately $219,000. Finally, Optimum Investment Advisors bought a new position in Energen in the second quarter worth approximately $228,000. Institutional investors own 96.05% of the company’s stock.
Shares of Energen (EGN) traded down $0.35 on Wednesday, reaching $58.38. 891,108 shares of the company’s stock were exchanged, compared to its average volume of 688,349. The stock has a market capitalization of $5,708.67, a PE ratio of -530.73, a PEG ratio of 0.96 and a beta of 1.90. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.24. Energen has a twelve month low of $46.16 and a twelve month high of $60.21.
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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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