Energen Corporation (EGN) Releases Earnings Results, Beats Expectations By $0.03 EPS

Energen Corporation (EGN) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $-0.64 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.67. The company posted revenue of $128.22 million in the period, compared to analysts expectations of $123.89 million. The company’s revenue was down -42.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.

Many Wall Street Analysts have commented on Energen Corporation. Energen Corporation was Downgraded by Deutsche Bank to ” Hold” on Apr 13, 2016. Credit Suisse Initiated Energen Corporation on Apr 1, 2016 to “Outperform”, Price Target of the shares are set at $43.Shares were Reiterated by Wunderlich on Mar 22, 2016 to “Buy” and Lowered the Price Target to $ 43 from a previous price target of $47 .

Energen Corporation closed down -1.98 points or -4.86% at $38.75 with 17,58,532 shares getting traded on Wednesday. Post opening the session at $40.83, the shares hit an intraday low of $38.46 and an intraday high of $41.73 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 25, 2016, Stephen A Snider (director) purchased 4,000 shares at $25.05 per share price. According to the SEC, on Sep 8, 2015, Magnus James Gorrie (director) purchased 1,000 shares at $49.54 per share price. On Jun 24, 2015, William G Hargett (director) purchased 500 shares at $68.88 per share price, according to the Form-4 filing with the securities and exchange commission.

Energen Corporation (Energen) is an oil and gas exploration and production company with headquarters in Birmingham Alabama. The Company has 1.1 billion barrels of oil-equivalent proved probable and possible reserves and another 2.2 billion barrels of oil-equivalent contingent resources. These all-domestic reserves and resources are located primarily in the Permian Basin in west Texas. Energen also has operations in the San Juan Basin in northern New Mexico.

Energen Corporation

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