EGN

Energen Corp

Energy


Presented:12/04/2015
Price:$55.41
Cap:$4.36B
Current Price:$72.12
Cap:$7.03B

Presented

Date12/04/2015
Price$55.41
Market Cap$4.36B
Ent Value$4.52B
P/E RatioN/A
Book Value$44.00
Div Yield0.74%
Shares O/S78.74M
Ave Daily Vol956,898
Short Int5.39%

Current

Price$72.12
Market Cap$7.03B
Energen Corp. is an energy holding company engaged in the development, acquisition, exploration and production of oil, natural gas and natural gas liquids in the continental United States and in the purchase, distribution and sale of natural gas in central and north Alabama. The company operates through two business segments: Oil and Gas Operations, and Natural Gas Distribution segment. The Oil and Gas Operations segment develops, acquires, explores and produces oil and gas in the continental United States. Its oil and gas operations focus on increasing production and adding proved reserves through the development and acquisition of oil and gas properties. The Natural Gas Distribution segment purchases, distributes and sells of natural gas in central and north Alabama. The company's two principal subsidiaries are Energen Resources Corp. and Alabama Gas Corp. The company was founded in 1978 and is headquartered in Birmingham, AL.

Publicly traded companies mentioned herein: Energen Corporation (EGN)

Highlights

The presenter sees an asymmetric short opportunity in shares of Energen Corporation (EGN) at ~$57. His view is that EGN has been “caught up in the asset allocation fever to own anything with Permian basin exposure;” however, in his opinion the Street is 20% too high on 2016 production and is overestimating EBITDA/ cash flow. Based on his assessment of EGN’s assets and cash flows, the presenter thinks it will be “almost impossible” for the E&P to grow production in 2017 and that shares are more fairly valued in the $30 - $35 range.

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Idea Discussion

Commentor 1 - 2 weeks ago

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