Energen Co. (EGN) Expected to Post Quarterly Sales of $301.71 Million
Wall Street brokerages forecast that Energen Co. (NYSE:EGN) will report sales of $301.71 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Energen’s earnings, with the lowest sales estimate coming in at $285.81 million and the highest estimate coming in at $323.03 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 company is expected to announce its next quarterly earnings results on Thursday, February 8th.
According to Zacks, analysts expect that Energen will report full-year sales of $301.71 million for the current fiscal year, with estimates ranging from $936.00 million to $985.20 million. For the next fiscal 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 a mean average based on a survey of sell-side research analysts that that provide coverage for Energen.
Energen (NYSE:EGN) last issued its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The company 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 firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.22) EPS.
Energen (NYSE:EGN) opened at $59.14 on Wednesday. The company has a market cap of $5,750.00, a price-to-earnings ratio of -537.64, a P/E/G ratio of 3.85 and a beta of 1.90. Energen has a 52-week low of $46.16 and a 52-week high of $60.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.58 and a quick ratio of 0.53.
In related news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $57.01, for a total transaction of $142,525.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Corvex Management Lp sold 80,294 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $57.56, for a total transaction of $4,621,722.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
A number of large investors have recently bought and sold shares of EGN. Cadence Capital Management LLC purchased a new position in Energen in the third quarter worth about $203,000. BB&T Securities LLC purchased a new position in Energen in the third quarter worth about $206,000. Boothbay Fund Management LLC purchased a new position in Energen in the third quarter worth about $209,000. Ironwood Investment Counsel LLC purchased a new position in Energen in the third quarter worth about $219,000. Finally, Optimum Investment Advisors purchased a new position in Energen in the second quarter worth about $228,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.
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Energen Company Profile
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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