Intrinsic value of Energen - EGN

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$56.90

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$56.90

 
Intrinsic value

$7.94

 
Up/down potential

-86%

 
Rating

str. sell

 
Value-price divergence* premium content

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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of EGN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -39.36
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  0
  544
  556
  570
  587
  604
  624
  645
  668
  693
  719
  748
  778
  811
  845
  881
  920
  961
  1,004
  1,050
  1,098
  1,149
  1,203
  1,259
  1,319
  1,381
  1,448
  1,517
  1,590
  1,667
  1,748
Variable operating expenses, $m
 
  1,432
  1,465
  1,503
  1,545
  1,592
  1,643
  1,699
  1,760
  1,825
  1,895
  1,970
  2,050
  2,135
  2,225
  2,321
  2,423
  2,531
  2,645
  2,765
  2,892
  3,026
  3,167
  3,316
  3,473
  3,639
  3,813
  3,996
  4,189
  4,392
  4,605
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  744
  1,432
  1,465
  1,503
  1,545
  1,592
  1,643
  1,699
  1,760
  1,825
  1,895
  1,970
  2,050
  2,135
  2,225
  2,321
  2,423
  2,531
  2,645
  2,765
  2,892
  3,026
  3,167
  3,316
  3,473
  3,639
  3,813
  3,996
  4,189
  4,392
  4,605
Operating income, $m
  -211
  -888
  -909
  -932
  -958
  -987
  -1,019
  -1,054
  -1,092
  -1,132
  -1,175
  -1,222
  -1,272
  -1,324
  -1,380
  -1,440
  -1,503
  -1,570
  -1,641
  -1,715
  -1,794
  -1,877
  -1,965
  -2,057
  -2,155
  -2,257
  -2,365
  -2,479
  -2,599
  -2,724
  -2,857
EBITDA, $m
  237
  -432
  -442
  -453
  -466
  -480
  -496
  -513
  -531
  -551
  -572
  -595
  -619
  -644
  -672
  -701
  -731
  -764
  -798
  -834
  -873
  -913
  -956
  -1,001
  -1,048
  -1,098
  -1,151
  -1,206
  -1,264
  -1,326
  -1,390
Interest expense (income), $m
  36
  28
  30
  32
  34
  36
  39
  42
  45
  48
  52
  56
  60
  64
  69
  74
  79
  85
  91
  97
  104
  111
  118
  126
  134
  143
  152
  161
  172
  182
  193
Earnings before tax, $m
  -247
  -917
  -939
  -964
  -992
  -1,024
  -1,058
  -1,096
  -1,136
  -1,180
  -1,227
  -1,278
  -1,331
  -1,389
  -1,449
  -1,514
  -1,582
  -1,655
  -1,731
  -1,812
  -1,898
  -1,988
  -2,083
  -2,183
  -2,289
  -2,400
  -2,517
  -2,640
  -2,770
  -2,907
  -3,050
Tax expense, $m
  -79
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -168
  -917
  -939
  -964
  -992
  -1,024
  -1,058
  -1,096
  -1,136
  -1,180
  -1,227
  -1,278
  -1,331
  -1,389
  -1,449
  -1,514
  -1,582
  -1,655
  -1,731
  -1,812
  -1,898
  -1,988
  -2,083
  -2,183
  -2,289
  -2,400
  -2,517
  -2,640
  -2,770
  -2,907
  -3,050

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  386
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,580
  4,281
  4,379
  4,492
  4,618
  4,758
  4,912
  5,079
  5,260
  5,455
  5,665
  5,889
  6,128
  6,382
  6,652
  6,939
  7,243
  7,565
  7,906
  8,266
  8,645
  9,046
  9,469
  9,914
  10,383
  10,878
  11,398
  11,946
  12,522
  13,129
  13,767
Adjusted assets (=assets-cash), $m
  4,194
  4,281
  4,379
  4,492
  4,618
  4,758
  4,912
  5,079
  5,260
  5,455
  5,665
  5,889
  6,128
  6,382
  6,652
  6,939
  7,243
  7,565
  7,906
  8,266
  8,645
  9,046
  9,469
  9,914
  10,383
  10,878
  11,398
  11,946
  12,522
  13,129
  13,767
Revenue / Adjusted assets
  0.000
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
Average production assets, $m
  4,159
  4,242
  4,340
  4,451
  4,576
  4,715
  4,867
  5,033
  5,213
  5,406
  5,613
  5,835
  6,072
  6,324
  6,592
  6,877
  7,178
  7,497
  7,835
  8,191
  8,567
  8,964
  9,383
  9,825
  10,290
  10,780
  11,295
  11,838
  12,410
  13,011
  13,643
Working capital, $m
  168
  -198
  -202
  -208
  -213
  -220
  -227
  -235
  -243
  -252
  -262
  -272
  -283
  -295
  -308
  -321
  -335
  -350
  -365
  -382
  -400
  -418
  -438
  -458
  -480
  -503
  -527
  -552
  -579
  -607
  -636
Total debt, $m
  551
  556
  590
  628
  671
  719
  772
  829
  891
  958
  1,029
  1,106
  1,188
  1,275
  1,367
  1,465
  1,569
  1,679
  1,796
  1,919
  2,049
  2,186
  2,330
  2,483
  2,643
  2,812
  2,990
  3,178
  3,375
  3,582
  3,800
Total liabilities, $m
  1,459
  1,464
  1,498
  1,536
  1,579
  1,627
  1,680
  1,737
  1,799
  1,866
  1,937
  2,014
  2,096
  2,183
  2,275
  2,373
  2,477
  2,587
  2,704
  2,827
  2,957
  3,094
  3,238
  3,391
  3,551
  3,720
  3,898
  4,086
  4,283
  4,490
  4,708
Total equity, $m
  3,121
  2,817
  2,882
  2,956
  3,039
  3,131
  3,232
  3,342
  3,461
  3,590
  3,727
  3,875
  4,032
  4,199
  4,377
  4,566
  4,766
  4,978
  5,202
  5,439
  5,689
  5,952
  6,230
  6,523
  6,832
  7,158
  7,500
  7,860
  8,240
  8,639
  9,059
Total liabilities and equity, $m
  4,580
  4,281
  4,380
  4,492
  4,618
  4,758
  4,912
  5,079
  5,260
  5,456
  5,664
  5,889
  6,128
  6,382
  6,652
  6,939
  7,243
  7,565
  7,906
  8,266
  8,646
  9,046
  9,468
  9,914
  10,383
  10,878
  11,398
  11,946
  12,523
  13,129
  13,767
Debt-to-equity ratio
  0.177
  0.200
  0.200
  0.210
  0.220
  0.230
  0.240
  0.250
  0.260
  0.270
  0.280
  0.290
  0.290
  0.300
  0.310
  0.320
  0.330
  0.340
  0.350
  0.350
  0.360
  0.370
  0.370
  0.380
  0.390
  0.390
  0.400
  0.400
  0.410
  0.410
  0.420
Adjusted equity ratio
  0.652
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658
  0.658

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -168
  -917
  -939
  -964
  -992
  -1,024
  -1,058
  -1,096
  -1,136
  -1,180
  -1,227
  -1,278
  -1,331
  -1,389
  -1,449
  -1,514
  -1,582
  -1,655
  -1,731
  -1,812
  -1,898
  -1,988
  -2,083
  -2,183
  -2,289
  -2,400
  -2,517
  -2,640
  -2,770
  -2,907
  -3,050
Depreciation, amort., depletion, $m
  448
  456
  467
  479
  492
  507
  523
  541
  561
  581
  604
  627
  653
  680
  709
  739
  772
  806
  842
  881
  921
  964
  1,009
  1,056
  1,106
  1,159
  1,215
  1,273
  1,334
  1,399
  1,467
Funds from operations, $m
  278
  -461
  -472
  -485
  -500
  -517
  -535
  -554
  -576
  -599
  -624
  -650
  -678
  -708
  -740
  -774
  -810
  -849
  -889
  -931
  -976
  -1,024
  -1,074
  -1,127
  -1,182
  -1,241
  -1,303
  -1,368
  -1,436
  -1,508
  -1,583
Change in working capital, $m
  -14
  -4
  -5
  -5
  -6
  -6
  -7
  -8
  -8
  -9
  -10
  -10
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -29
Cash from operations, $m
  292
  -600
  -468
  -480
  -494
  -510
  -528
  -547
  -567
  -590
  -614
  -640
  -667
  -697
  -728
  -761
  -796
  -834
  -873
  -915
  -959
  -1,005
  -1,054
  -1,106
  -1,161
  -1,218
  -1,279
  -1,342
  -1,409
  -1,480
  -1,554
Maintenance CAPEX, $m
  0
  -447
  -456
  -467
  -479
  -492
  -507
  -523
  -541
  -561
  -581
  -604
  -627
  -653
  -680
  -709
  -739
  -772
  -806
  -842
  -881
  -921
  -964
  -1,009
  -1,056
  -1,106
  -1,159
  -1,215
  -1,273
  -1,334
  -1,399
New CAPEX, $m
  -447
  -83
  -98
  -112
  -125
  -139
  -152
  -166
  -179
  -193
  -207
  -222
  -237
  -252
  -268
  -284
  -301
  -319
  -337
  -356
  -376
  -397
  -419
  -441
  -465
  -490
  -516
  -543
  -571
  -601
  -632
Cash from investing activities, $m
  -66
  -530
  -554
  -579
  -604
  -631
  -659
  -689
  -720
  -754
  -788
  -826
  -864
  -905
  -948
  -993
  -1,040
  -1,091
  -1,143
  -1,198
  -1,257
  -1,318
  -1,383
  -1,450
  -1,521
  -1,596
  -1,675
  -1,758
  -1,844
  -1,935
  -2,031
Free cash flow, $m
  226
  -1,130
  -1,021
  -1,058
  -1,098
  -1,141
  -1,187
  -1,236
  -1,288
  -1,344
  -1,403
  -1,465
  -1,532
  -1,602
  -1,676
  -1,754
  -1,837
  -1,925
  -2,017
  -2,114
  -2,216
  -2,324
  -2,437
  -2,557
  -2,682
  -2,814
  -2,953
  -3,100
  -3,253
  -3,415
  -3,585
Issuance/(repayment) of debt, $m
  -223
  29
  34
  38
  43
  48
  53
  57
  62
  67
  72
  77
  82
  87
  92
  98
  104
  110
  116
  123
  130
  137
  145
  152
  161
  169
  178
  187
  197
  207
  218
Issuance/(repurchase) of shares, $m
  381
  797
  1,052
  1,094
  1,138
  1,185
  1,235
  1,289
  1,345
  1,405
  1,469
  1,536
  1,607
  1,682
  1,761
  1,845
  1,933
  2,026
  2,124
  2,227
  2,336
  2,450
  2,571
  2,697
  2,831
  2,971
  3,118
  3,273
  3,436
  3,607
  3,787
Cash from financing (excl. dividends), $m  
  159
  826
  1,086
  1,132
  1,181
  1,233
  1,288
  1,346
  1,407
  1,472
  1,541
  1,613
  1,689
  1,769
  1,853
  1,943
  2,037
  2,136
  2,240
  2,350
  2,466
  2,587
  2,716
  2,849
  2,992
  3,140
  3,296
  3,460
  3,633
  3,814
  4,005
Total cash flow (excl. dividends), $m
  385
  -1,101
  -988
  -1,020
  -1,055
  -1,093
  -1,134
  -1,179
  -1,226
  -1,277
  -1,331
  -1,389
  -1,450
  -1,515
  -1,584
  -1,656
  -1,733
  -1,814
  -1,900
  -1,991
  -2,086
  -2,187
  -2,293
  -2,404
  -2,522
  -2,645
  -2,775
  -2,912
  -3,056
  -3,208
  -3,367
Retained Cash Flow (-), $m
  -225
  -58
  -65
  -74
  -83
  -92
  -101
  -110
  -119
  -128
  -138
  -147
  -157
  -167
  -178
  -189
  -200
  -212
  -224
  -237
  -250
  -264
  -278
  -293
  -309
  -325
  -342
  -360
  -379
  -399
  -420
Prev. year cash balance distribution, $m
 
  362
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  86.1
  71.3
  58.8
  48.4
  39.7
  32.6
  26.6
  21.8
  17.7
  14.4
  11.7
  9.5
  7.7
  6.3
  5.1
  4.1
  3.3
  2.7
  2.2
  1.7
  1.4
  1.1
  0.9
  0.7
  0.6
  0.5
  0.4
  0.3
  0.2
  0.2

Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas in the Permian Basin in west Texas and the San Juan Basin in New Mexico. The company was founded in 1929 and is headquartered in Birmingham, Alabama.

FINANCIAL RATIOS  of  Energen (EGN)

Valuation Ratios
P/E Ratio -32.9
Price to Sales 10.4
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 18.9
Price to Free Cash Flow -35.6
Growth Rates
Sales Growth Rate -39.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -61.3%
Cap. Spend. - 3 Yr. Gr. Rate -16.6%
Financial Strength
Quick Ratio 16
Current Ratio 0
LT Debt to Equity 16.9%
Total Debt to Equity 17.7%
Interest Coverage -6
Management Effectiveness
Return On Assets -3.1%
Ret/ On Assets - 3 Yr. Avg. -3.7%
Return On Total Capital -4.6%
Ret/ On T. Cap. - 3 Yr. Avg. -5.1%
Return On Equity -5.6%
Return On Equity - 3 Yr. Avg. -5.8%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 44.5%
EBITDA Margin - 3 Yr. Avg. -2.9%
Operating Margin -39.6%
Oper. Margin - 3 Yr. Avg. -64.2%
Pre-Tax Margin -46.3%
Pre-Tax Margin - 3 Yr. Avg. -68.8%
Net Profit Margin -31.5%
Net Profit Margin - 3 Yr. Avg. -35.1%
Effective Tax Rate 32%
Eff/ Tax Rate - 3 Yr. Avg. 32.2%
Payout Ratio 0%

EGN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EGN stock intrinsic value calculation we used $533 million for the last fiscal year's total revenue generated by Energen. The default revenue input number comes from 2016 income statement of Energen. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EGN stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for EGN is calculated based on our internal credit rating of Energen, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Energen.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EGN stock the variable cost ratio is equal to 263.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for EGN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Energen.

Corporate tax rate of 27% is the nominal tax rate for Energen. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EGN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EGN are equal to 780.3%.

Life of production assets of 9.3 years is the average useful life of capital assets used in Energen operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EGN is equal to -36.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3121 million for Energen - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 98.273 million for Energen is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Energen at the current share price and the inputted number of shares is $5.6 billion.


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COMPANY NEWS

▶ These Stocks Are Changing Direction   [May-22-17 01:00PM  TheStreet.com]
▶ Energen to Present at UBS Global Oil and Gas Conference   [May-19-17 11:46AM  Business Wire]
▶ Energen misses 1Q profit forecasts   [May-04-17 05:04PM  Associated Press]
▶ Energen Corp. Value Analysis (NYSE:EGN) : April 27, 2017   [Apr-27-17 04:46PM  Capital Cube]
▶ This Is Why Crude Oil Prices Are Driving MROs Stock Price   [Apr-18-17 10:37AM  Market Realist]
▶ How Crude Oil Prices Moved Marathon Oils Stock Price   [Apr-17-17 01:20PM  Market Realist]
▶ Energen Schedules 1Q17 Conference Call for May 5, 2017   [Apr-10-17 05:17PM  Business Wire]
▶ Why Crude Oil Prices Impact ConocoPhillipss Stock Price   [Apr-05-17 07:36AM  Market Realist]
▶ UBS Says Buy the Energy Sector Pullback Now: 6 Top Picks   [Mar-31-17 10:05AM  24/7 Wall St.]
▶ How Crude Oil Prices Moved Encanas Stock Price   [Mar-16-17 07:37AM  Market Realist]
▶ Energen Investor Community Meetings Slated for March 6-8   [Mar-03-17 03:15PM  Business Wire]
▶ Why Energen (EGN) Could Shock the Market Soon   [Mar-02-17 08:33AM  Zacks]
▶ Energen Announces Upcoming Investor Meetings   [Jan-10-17 10:30AM  Business Wire]
▶ Five Potential Oil & Gas Takeover Targets In 2017   [Jan-03-17 07:34PM  at Forbes]
▶ Mizuho Analysts Share Their Top Stock Picks for 2017   [Dec-30-16 06:00AM  at TheStreet]
▶ Energen Investor Community Meetings Slated for December 6-7   [Dec-05-16 04:15PM  Business Wire]
▶ Energen Schedules 3Q16 Conference Call for November 4, 2016   [Oct-06-16 04:30PM  Business Wire]
▶ Energen Investor Community Meetings Slated for October 3-4   [Sep-30-16 11:55AM  Business Wire]
▶ Energen to Present at Barclays CEO Energy-Power Conference   [Sep-01-16 04:30PM  Business Wire]
▶ Oil Stocks: Don't Chase the Rally!   [11:44AM  at Barrons.com]
Stock chart of EGN Financial statements of EGN Annual reports of EGN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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