Analyst’s Review on: Energen Corporation (NYSE:EGN)

The shares of Energen Corporation (NYSE:EGN) currently has mean rating of 2.33 while 2 analysts have recommended the shares as “BUY”, 14 recommended as “OUTPERFORM” and 11 recommended as “HOLD”. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.

The company’s mean estimate for sales for the current quarter ending Jun-16 is 148.47 million by 17 analysts. The means estimate of sales for the year ending Dec-16 is 585.63 million by 19 analysts.

The mean price target for the shares of Energen Corporation (NYSE:EGN) is at 50.16 while the highest price target suggested by the analysts is 62.00 and low price target is 34.00. The mean price target is calculated keeping in view the consensus of 25 brokerage firms.

The average estimate of EPS for the current fiscal quarter for Energen Corporation (NYSE:EGN) stands at -0.40 while the EPS for the current year is fixed at -1.65 by 23 analysts.

The next one year’s EPS estimate is set at -0.62 by 27 analysts while a year ago the analysts suggested the company’s EPS at -1.65. The analysts also projected the company’s long-term growth at 11.01% for the upcoming five years.

In its latest quarter ended on 31^st March 2016, Energen Corporation (NYSE:EGN) reported earnings of -$0.64. The posted earnings topped the analyst’s consensus by $0.03 with the surprise factor of 4.50%. In the matter of earnings surprises, the term “Cockroach Effect” is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

On May 26, 2016 Energen Corporation (NYSE:EGN) announced that it has taken advantage of continued increases in 2017 oil prices to help protect future returns and to retain some upside exposure to higher oil prices.

Energen recently added swaps for 1.6 million barrels of its 2017 oil production at an average NYMEX price of $50.55 per barrel; the company also recently entered into three way collars for 3.0 million barrels of its 2017 oil production at an average call price of $61.03 per barrel, an average put price of $45 per barrel, and an average short put price of $35 per barrel. This brings the company’s total oil volumes hedged in 2017 to 7.1 million barrels.