Energen (NYSE:EGN) posted its earnings results on Tuesday. The oil and gas producer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.85 by $0.11, Morningstar.com reports. The firm had revenue of $380.88 million for the quarter, compared to analyst estimates of $364.64 million. Energen had a return on equity of 8.74% and a net margin of 31.37%.
Shares of EGN traded down $1.79 during mid-day trading on Thursday, hitting $72.45. 3,056 shares of the company’s stock were exchanged, compared to its average volume of 1,039,968. Energen has a fifty-two week low of $47.81 and a fifty-two week high of $89.83. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 96.75 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.50 and a current ratio of 0.57.
Several research firms recently commented on EGN. US Capital Advisors lowered Energen from an “overweight” rating to a “hold” rating in a report on Monday, October 22nd. ValuEngine lowered Energen from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research lowered Energen from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Williams Capital lowered Energen from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a report on Friday, July 20th. Finally, Royal Bank of Canada raised their price objective on Energen to $81.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 15th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $78.35.
Institutional investors and hedge funds have recently made changes to their positions in the company. Bray Capital Advisors acquired a new stake in shares of Energen during the second quarter worth about $124,000. Bank of Montreal Can boosted its stake in shares of Energen by 108.6% during the third quarter. Bank of Montreal Can now owns 2,309 shares of the oil and gas producer’s stock worth $198,000 after buying an additional 29,176 shares during the period. Lourd Capital LLC acquired a new stake in shares of Energen during the third quarter worth about $200,000. Salzhauer Michael acquired a new stake in shares of Energen during the third quarter worth about $215,000. Finally, Brookstone Capital Management acquired a new stake in shares of Energen during the third quarter worth about $217,000. Institutional investors and hedge funds own 92.66% of the company’s stock.
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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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