Energen Corporation (EGN) Releases Earnings Results, Beats Expectations By $0.07 EPS

Energen Corporation (EGN) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $-0.28 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $-0.35. The company posted revenue of $105.80 million in the period, compared to analysts expectations of $151.34 million. The company’s revenue was down -37.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Energen Corporation. Company shares were Reiterated by Barclays on Jun 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 52 from a previous price target of $50 .Company shares were Reiterated by Wunderlich on Jun 21, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $53 .Company shares were Reiterated by RBC Capital Mkts on Jun 21, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 48 from a previous price target of $43 .

Energen Corporation opened for trading at $50.25 and hit $51.96 on the upside on Friday, eventually ending the session at $51.84, with a gain of 3.37% or 1.69 points. The heightened volatility saw the trading volume jump to 16,26,716 shares. Company has a market cap of $5,032 M.

In a different news, on Jul 1, 2016, J T Mcmanus (Chairman and CEO) sold 15,000 shares at $48.05 per share price. According to the SEC, on Jun 27, 2016, Magnus James Gorrie (director) purchased 1,000 shares at $47.26 per share price. On Jun 23, 2016, Alan A Kleier (director) purchased 500 shares at $48.60 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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