August 12, 2016 - 9:16 AM EDT
Print Email Article Font Down Font Up Charts

Post Earnings Coverage as Energen Tops Earnings Estimates

LONDON, UK / ACCESSWIRE / August 12, 2016 / Active Wall St. announces its post-earnings coverage on Energen Corp. (NYSE: EGN). The stock released its second quarter fiscal 2016 results on August 08th, 2016. The oil-focused exploration and production company with operations in the Permian Basin in west Texas reported earnings better than market expectations and also topped its production guidance driven by Midland Basin horizontal plays. Register with us now for your free membership at:

Today, AWS is promoting its earnings coverage on EGN. Get our free coverage by signing up to

Earnings Reviewed

For the three month ended on June 30, 2016, Energen reported GAAP net income of 36.76 million, or $0.38 per diluted share, as compared to GAAP net loss of $111.60 million, or $1.52 per diluted share, in the year ago period. Energen had reported lower earnings in Q2 FY15 due to lower realized crude oil and natural gas prices. Excluding certain items, Energen's adjusted loss in Q2 FY16 totaled $27.1 million, or $0.28 per diluted share, against adjusted income of $11.9 million, or $0.16 per diluted share, in Q2 FY15, which was better than analysts' consensus estimate for a loss of $0.34 per share. For Q2 FY16, Energen reported GAAP total revenues of $105.77 million as compared to GAAP total revenues of $168.32 million in Q2 FY15.

Production Update

For Q2 FY16, Energen reported total production of 56.0 thousand barrels of oil equivalents per day (mboepd) and exceeded the company's production guidance mid-point of 53.9 mboepd by 3.9%, the production was also higher as compared to total production of 55.4 mboepd in Q2 FY15. The company attributed the increase in production to the outperformance of its Midland Basin horizontal plays. Energen's continuing operations exclude assets which the company has already divested or plans to sell in 2016. Energen plans to sell the remainder of its San Juan Basin assets in 2016 along with other non-core assets in the Delaware Basin.

For Q2 FY16, Average Realized Sales Prices for Oil plunged 43% to $39.52 per barrel from $69.39 in the year ago period. Average Realized Sales Prices for Natural Gas slumped 60% to $1.68 per Mcf as compared to $4.22 per Mcf in Q2 FY15.


As of June 30, 2016, Energen had cash of $309.9 million and long-term debt of $551.2 million. The company estimates that its total net debt-to-2016 adjusted EBITDAX will be approximately 0.5x.

Production guidance

For 2016, Energen has increased the production guidance mid-point for the year by approximately 2%, or 900 boepd, within a range of 53.6-54.4 mboepd. For Q3 FY16, Energen expects total production from continuing operations in a range of 55.2–55.6 mboepd and from 52.0-52.4 mboepd for Q4 FY16.

Stock Performance

Energen's shares climbed 2.04% on August 11, 2016, finishing the trading session at $52.92, with a total volume of 1.61 million shares being traded for the day. The company's stock price has advanced 22.84% in the past three month and gained 114.51% in the last six months on improvement in oil prices.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit


For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: [email protected]
Phone number: 1-858-257-3144
Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

Source: ACCESSWIRE Investor Awareness (August 12, 2016 - 9:16 AM EDT)

News by QuoteMedia

Legal Notice