Energen Corporation (NYSE:EGN) released 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 Thomson Reuters’ consensus estimate of $0.06, Bloomberg Earnings reports. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The company had revenue of $256.82 million during the quarter, compared to the consensus estimate of $222.60 million. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. The firm’s revenue was up 142.8% compared to the same quarter last year.
Energen Corporation (EGN) opened at 50.26 on Friday. Energen Corporation has a 1-year low of $46.16 and a 1-year high of $64.43. The company has a market cap of $4.89 billion, a P/E ratio of 79.53 and a beta of 1.93. The stock’s 50 day moving average price is $50.04 and its 200 day moving average price is $52.50.
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In other news, Director Alan A. Kleier acquired 1,000 shares of Energen Corporation stock in a transaction that occurred on Friday, June 23rd. The stock was bought at an average price of $47.59 per share, for a total transaction of $47,590.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at $71,385. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Morgan Stanley raised its position in shares of Energen Corporation by 11.7% in the first quarter. Morgan Stanley now owns 226,536 shares of the oil and gas producer’s stock worth $12,333,000 after buying an additional 23,656 shares during the last quarter. CarVal Investors LLC purchased a new position in shares of Energen Corporation during the first quarter worth approximately $5,444,000. Janus Capital Management LLC raised its position in shares of Energen Corporation by 60.5% in the first quarter. Janus Capital Management LLC now owns 56,000 shares of the oil and gas producer’s stock worth $3,049,000 after buying an additional 21,100 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in Energen Corporation during the first quarter valued at about $909,000. Finally, Elliott Management Corp bought a new stake in Energen Corporation during the first quarter valued at about $46,274,000. Institutional investors and hedge funds own 97.71% of the company’s stock.
Several research firms have recently issued reports on EGN. ValuEngine downgraded Energen Corporation from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays PLC set a $57.00 price objective on Energen Corporation and gave the company a “hold” rating in a research note on Tuesday. Citigroup Inc. lowered their price objective on Energen Corporation from $58.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday. Seaport Global Securities raised Energen Corporation from a “sell” rating to a “neutral” rating and upped their price objective for the company from $38.00 to $46.00 in a research note on Friday, August 11th. Finally, BMO Capital Markets set a $60.00 target price on Energen Corporation and gave the company a “hold” rating in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $66.23.
Energen Corporation 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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