Energen (NYSE:EGN) issued its earnings results on Tuesday. The oil and gas producer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.11, Morningstar.com reports. The company had revenue of $380.88 million during the quarter, compared to the consensus estimate of $364.64 million. Energen had a net margin of 35.43% and a return on equity of 6.83%.
EGN stock traded up $1.83 during mid-day trading on Wednesday, hitting $74.24. The company had a trading volume of 1,645,200 shares, compared to its average volume of 1,328,936. The company has a quick ratio of 0.50, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The stock has a market cap of $7.16 billion, a P/E ratio of 98.99 and a beta of 1.50. Energen has a 12-month low of $47.81 and a 12-month high of $89.83.
In other Energen news, insider Carl C. Icahn bought 500,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were purchased at an average cost of $76.63 per share, for a total transaction of $38,315,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Carl C. Icahn bought 100,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were acquired at an average price of $72.34 per share, for a total transaction of $7,234,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 800,000 shares of company stock worth $59,863,000 over the last 90 days. Corporate insiders own 1.05% of the company’s stock.
Several brokerages recently weighed in on EGN. US Capital Advisors downgraded shares of Energen from an “overweight” rating to a “hold” rating in a report on Monday, October 22nd. ValuEngine downgraded shares of Energen from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research cut shares of Energen from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Williams Capital cut shares of Energen from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a research note on Friday, July 20th. Finally, Royal Bank of Canada boosted their price target on shares of Energen to $81.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Energen currently has an average rating of “Hold” and an average price target of $78.35.
Energen Company Profile
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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