Energen Corp. is an oil and gas exploration and production company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on EGN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Energencould be a solid choice for investors.

Current Quarter Estimates for EGN

In the past 30 days, 10 estimates have gone higher for Energen, while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing down from a loss of 31 cents per share 30 days ago, to a loss of 26 cents per share today, a move of 19.2%.

Current Year Estimates for EGN

Meanwhile, Energen’s current year figures are also looking quite promising, with 9 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing down from a loss of $1.62 per share 30 days ago to a loss of $1.42 per share today, an increase of 14.1%.  

Bottom Line

The stock has also started to move higher lately, adding 17.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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