SunTrust Banks Comments on Energen Corporation’s FY2018 Earnings (EGN)
Energen Corporation (NYSE:EGN) – Equities researchers at SunTrust Banks raised their FY2018 earnings per share (EPS) estimates for shares of Energen Corporation in a research report issued on Thursday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will post earnings of $1.73 per share for the year, up from their prior forecast of $1.57. SunTrust Banks has a “Buy” rating and a $70.00 price target on the stock. SunTrust Banks also issued estimates for Energen Corporation’s FY2019 earnings at $2.94 EPS and FY2020 earnings at $3.53 EPS.
Energen Corporation (NYSE:EGN) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $222.60 million. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. Energen Corporation’s revenue was up 142.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.28) EPS.
EGN has been the subject of a number of other research reports. Citigroup Inc. lifted their target price on shares of Energen Corporation from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. BidaskClub downgraded shares of Energen Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Morgan Stanley increased their price target on shares of Energen Corporation from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, August 31st. Zacks Investment Research raised shares of Energen Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine cut shares of Energen Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Energen Corporation currently has an average rating of “Buy” and a consensus target price of $65.63.
Energen Corporation (EGN) traded down 1.76% on Monday, reaching $53.64. 451,318 shares of the company’s stock were exchanged. Energen Corporation has a 12-month low of $46.16 and a 12-month high of $64.44. The firm has a 50 day moving average of $51.77 and a 200-day moving average of $52.21. The company has a market cap of $5.21 billion, a P/E ratio of 84.87 and a beta of 1.95.
Several institutional investors have recently made changes to their positions in the company. Creative Planning lifted its stake in shares of Energen Corporation by 8.0% in the second quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 250 shares in the last quarter. Optimum Investment Advisors acquired a new position in shares of Energen Corporation in the 2nd quarter valued at approximately $228,000. Laurion Capital Management LP acquired a new position in shares of Energen Corporation in the 1st quarter valued at approximately $229,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Energen Corporation in the 1st quarter valued at approximately $231,000. Finally, Capital Insight Partners LLC acquired a new position in shares of Energen Corporation in the 2nd quarter valued at approximately $237,000. Institutional investors own 94.01% of the company’s stock.
About Energen Corporation
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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