Intrinsic value of Energen - EGN

Previous Close

$58.62

  Intrinsic Value

$8.02

stock screener

  Rating & Target

str. sell

-86%

Previous close

$58.62

 
Intrinsic value

$8.02

 
Up/down potential

-86%

 
Rating

str. sell

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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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
  4.30
  4.37
  4.43
  4.49
  4.54
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.89
  4.91
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
Revenue, $m
  0
  556
  580
  606
  633
  662
  692
  724
  758
  794
  831
  871
  912
  956
  1,002
  1,051
  1,102
  1,156
  1,212
  1,271
  1,334
  1,399
  1,468
  1,540
  1,617
  1,696
  1,780
  1,869
  1,961
  2,059
  2,161
Variable operating expenses, $m
 
  1,464
  1,528
  1,596
  1,668
  1,743
  1,823
  1,908
  1,997
  2,091
  2,189
  2,294
  2,403
  2,519
  2,640
  2,768
  2,902
  3,044
  3,192
  3,348
  3,513
  3,685
  3,867
  4,058
  4,258
  4,468
  4,690
  4,922
  5,166
  5,422
  5,692
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
  1,464
  1,528
  1,596
  1,668
  1,743
  1,823
  1,908
  1,997
  2,091
  2,189
  2,294
  2,403
  2,519
  2,640
  2,768
  2,902
  3,044
  3,192
  3,348
  3,513
  3,685
  3,867
  4,058
  4,258
  4,468
  4,690
  4,922
  5,166
  5,422
  5,692
Operating income, $m
  -211
  -908
  -948
  -990
  -1,035
  -1,082
  -1,131
  -1,183
  -1,239
  -1,297
  -1,358
  -1,423
  -1,491
  -1,562
  -1,638
  -1,717
  -1,800
  -1,888
  -1,980
  -2,077
  -2,179
  -2,286
  -2,399
  -2,517
  -2,641
  -2,772
  -2,909
  -3,053
  -3,205
  -3,364
  -3,531
EBITDA, $m
  237
  -442
  -461
  -482
  -503
  -526
  -550
  -576
  -603
  -631
  -661
  -692
  -725
  -760
  -797
  -835
  -876
  -919
  -963
  -1,011
  -1,060
  -1,112
  -1,167
  -1,225
  -1,285
  -1,349
  -1,415
  -1,485
  -1,559
  -1,637
  -1,718
Interest expense (income), $m
  36
  28
  32
  35
  39
  43
  47
  52
  56
  61
  66
  72
  78
  84
  90
  97
  104
  111
  119
  127
  136
  145
  154
  164
  175
  186
  198
  210
  223
  236
  250
Earnings before tax, $m
  -247
  -937
  -980
  -1,025
  -1,074
  -1,125
  -1,178
  -1,235
  -1,295
  -1,358
  -1,425
  -1,495
  -1,568
  -1,646
  -1,728
  -1,814
  -1,904
  -1,999
  -2,099
  -2,204
  -2,315
  -2,431
  -2,553
  -2,682
  -2,816
  -2,958
  -3,107
  -3,263
  -3,427
  -3,600
  -3,781
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
  -937
  -980
  -1,025
  -1,074
  -1,125
  -1,178
  -1,235
  -1,295
  -1,358
  -1,425
  -1,495
  -1,568
  -1,646
  -1,728
  -1,814
  -1,904
  -1,999
  -2,099
  -2,204
  -2,315
  -2,431
  -2,553
  -2,682
  -2,816
  -2,958
  -3,107
  -3,263
  -3,427
  -3,600
  -3,781

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
  4,377
  4,569
  4,771
  4,985
  5,212
  5,451
  5,703
  5,969
  6,250
  6,545
  6,856
  7,184
  7,529
  7,892
  8,274
  8,676
  9,098
  9,543
  10,010
  10,501
  11,017
  11,559
  12,129
  12,728
  13,358
  14,019
  14,713
  15,443
  16,210
  17,015
Adjusted assets (=assets-cash), $m
  4,194
  4,377
  4,569
  4,771
  4,985
  5,212
  5,451
  5,703
  5,969
  6,250
  6,545
  6,856
  7,184
  7,529
  7,892
  8,274
  8,676
  9,098
  9,543
  10,010
  10,501
  11,017
  11,559
  12,129
  12,728
  13,358
  14,019
  14,713
  15,443
  16,210
  17,015
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
  4,338
  4,527
  4,728
  4,940
  5,165
  5,402
  5,652
  5,915
  6,193
  6,486
  6,795
  7,119
  7,461
  7,821
  8,200
  8,598
  9,016
  9,457
  9,920
  10,406
  10,918
  11,455
  12,020
  12,614
  13,237
  13,892
  14,581
  15,304
  16,063
  16,861
Working capital, $m
  168
  -202
  -211
  -221
  -230
  -241
  -252
  -264
  -276
  -289
  -303
  -317
  -332
  -348
  -365
  -382
  -401
  -421
  -441
  -463
  -485
  -509
  -534
  -561
  -588
  -617
  -648
  -680
  -714
  -749
  -787
Total debt, $m
  551
  589
  654
  724
  797
  874
  956
  1,042
  1,133
  1,229
  1,330
  1,437
  1,549
  1,667
  1,791
  1,922
  2,059
  2,204
  2,356
  2,515
  2,683
  2,860
  3,045
  3,240
  3,445
  3,660
  3,886
  4,124
  4,374
  4,636
  4,911
Total liabilities, $m
  1,459
  1,497
  1,562
  1,632
  1,705
  1,782
  1,864
  1,950
  2,041
  2,137
  2,238
  2,345
  2,457
  2,575
  2,699
  2,830
  2,967
  3,112
  3,264
  3,423
  3,591
  3,768
  3,953
  4,148
  4,353
  4,568
  4,794
  5,032
  5,282
  5,544
  5,819
Total equity, $m
  3,121
  2,880
  3,006
  3,139
  3,280
  3,429
  3,587
  3,753
  3,928
  4,112
  4,307
  4,511
  4,727
  4,954
  5,193
  5,444
  5,709
  5,987
  6,279
  6,586
  6,910
  7,249
  7,606
  7,981
  8,375
  8,789
  9,224
  9,681
  10,162
  10,666
  11,196
Total liabilities and equity, $m
  4,580
  4,377
  4,568
  4,771
  4,985
  5,211
  5,451
  5,703
  5,969
  6,249
  6,545
  6,856
  7,184
  7,529
  7,892
  8,274
  8,676
  9,099
  9,543
  10,009
  10,501
  11,017
  11,559
  12,129
  12,728
  13,357
  14,018
  14,713
  15,444
  16,210
  17,015
Debt-to-equity ratio
  0.177
  0.200
  0.220
  0.230
  0.240
  0.250
  0.270
  0.280
  0.290
  0.300
  0.310
  0.320
  0.330
  0.340
  0.340
  0.350
  0.360
  0.370
  0.380
  0.380
  0.390
  0.390
  0.400
  0.410
  0.410
  0.420
  0.420
  0.430
  0.430
  0.430
  0.440
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
  -937
  -980
  -1,025
  -1,074
  -1,125
  -1,178
  -1,235
  -1,295
  -1,358
  -1,425
  -1,495
  -1,568
  -1,646
  -1,728
  -1,814
  -1,904
  -1,999
  -2,099
  -2,204
  -2,315
  -2,431
  -2,553
  -2,682
  -2,816
  -2,958
  -3,107
  -3,263
  -3,427
  -3,600
  -3,781
Depreciation, amort., depletion, $m
  448
  466
  487
  508
  531
  555
  581
  608
  636
  666
  697
  731
  766
  802
  841
  882
  924
  970
  1,017
  1,067
  1,119
  1,174
  1,232
  1,292
  1,356
  1,423
  1,494
  1,568
  1,646
  1,727
  1,813
Funds from operations, $m
  278
  -470
  -493
  -517
  -542
  -569
  -598
  -627
  -659
  -692
  -727
  -764
  -803
  -844
  -887
  -932
  -980
  -1,030
  -1,082
  -1,138
  -1,196
  -1,257
  -1,321
  -1,389
  -1,460
  -1,535
  -1,613
  -1,695
  -1,782
  -1,873
  -1,968
Change in working capital, $m
  -14
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -31
  -32
  -34
  -35
  -37
Cash from operations, $m
  292
  -462
  -484
  -508
  -533
  -559
  -586
  -616
  -647
  -679
  -714
  -750
  -788
  -828
  -870
  -914
  -961
  -1,010
  -1,062
  -1,116
  -1,173
  -1,233
  -1,296
  -1,363
  -1,432
  -1,506
  -1,582
  -1,663
  -1,748
  -1,837
  -1,931
Maintenance CAPEX, $m
  0
  -447
  -466
  -487
  -508
  -531
  -555
  -581
  -608
  -636
  -666
  -697
  -731
  -766
  -802
  -841
  -882
  -924
  -970
  -1,017
  -1,067
  -1,119
  -1,174
  -1,232
  -1,292
  -1,356
  -1,423
  -1,494
  -1,568
  -1,646
  -1,727
New CAPEX, $m
  -447
  -179
  -190
  -201
  -212
  -224
  -237
  -250
  -264
  -278
  -293
  -308
  -325
  -342
  -360
  -379
  -398
  -419
  -440
  -463
  -487
  -511
  -538
  -565
  -594
  -624
  -655
  -688
  -723
  -760
  -798
Cash from investing activities, $m
  -66
  -626
  -656
  -688
  -720
  -755
  -792
  -831
  -872
  -914
  -959
  -1,005
  -1,056
  -1,108
  -1,162
  -1,220
  -1,280
  -1,343
  -1,410
  -1,480
  -1,554
  -1,630
  -1,712
  -1,797
  -1,886
  -1,980
  -2,078
  -2,182
  -2,291
  -2,406
  -2,525
Free cash flow, $m
  226
  -1,088
  -1,140
  -1,195
  -1,253
  -1,314
  -1,379
  -1,447
  -1,518
  -1,593
  -1,672
  -1,756
  -1,843
  -1,935
  -2,032
  -2,134
  -2,241
  -2,353
  -2,472
  -2,596
  -2,727
  -2,864
  -3,008
  -3,159
  -3,318
  -3,485
  -3,661
  -3,845
  -4,039
  -4,242
  -4,456
Issuance/(repayment) of debt, $m
  -223
  62
  65
  69
  73
  77
  82
  86
  91
  96
  101
  106
  112
  118
  124
  131
  137
  145
  152
  160
  168
  177
  186
  195
  205
  215
  226
  238
  250
  262
  275
Issuance/(repurchase) of shares, $m
  381
  1,058
  1,106
  1,159
  1,215
  1,274
  1,336
  1,401
  1,470
  1,543
  1,619
  1,699
  1,784
  1,873
  1,967
  2,065
  2,169
  2,277
  2,392
  2,512
  2,638
  2,771
  2,910
  3,057
  3,210
  3,372
  3,542
  3,720
  3,908
  4,104
  4,311
Cash from financing (excl. dividends), $m  
  159
  1,120
  1,171
  1,228
  1,288
  1,351
  1,418
  1,487
  1,561
  1,639
  1,720
  1,805
  1,896
  1,991
  2,091
  2,196
  2,306
  2,422
  2,544
  2,672
  2,806
  2,948
  3,096
  3,252
  3,415
  3,587
  3,768
  3,958
  4,158
  4,366
  4,586
Total cash flow (excl. dividends), $m
  385
  32
  31
  33
  35
  37
  39
  41
  43
  45
  48
  50
  53
  56
  59
  62
  65
  68
  72
  76
  79
  84
  88
  92
  97
  102
  107
  112
  118
  124
  130
Retained Cash Flow (-), $m
  -225
  -1,058
  -1,106
  -1,159
  -1,215
  -1,274
  -1,336
  -1,401
  -1,470
  -1,543
  -1,619
  -1,699
  -1,784
  -1,873
  -1,967
  -2,065
  -2,169
  -2,277
  -2,392
  -2,512
  -2,638
  -2,771
  -2,910
  -3,057
  -3,210
  -3,372
  -3,542
  -3,720
  -3,908
  -4,104
  -4,311
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
 
  -664
  -1,075
  -1,126
  -1,180
  -1,237
  -1,297
  -1,360
  -1,427
  -1,497
  -1,571
  -1,649
  -1,731
  -1,817
  -1,908
  -2,003
  -2,104
  -2,209
  -2,320
  -2,436
  -2,559
  -2,687
  -2,822
  -2,964
  -3,114
  -3,270
  -3,435
  -3,608
  -3,789
  -3,980
  -4,181
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
 
  -637
  -984
  -980
  -972
  -959
  -941
  -919
  -892
  -860
  -824
  -783
  -739
  -691
  -641
  -588
  -535
  -481
  -427
  -375
  -325
  -278
  -234
  -194
  -159
  -127
  -100
  -77
  -59
  -43
  -31
Current shareholders' claim on cash, %
  100
  82.7
  68.3
  56.4
  46.5
  38.4
  31.6
  26.1
  21.5
  17.7
  14.5
  12.0
  9.8
  8.1
  6.6
  5.4
  4.5
  3.7
  3.0
  2.5
  2.0
  1.7
  1.4
  1.1
  0.9
  0.8
  0.6
  0.5
  0.4
  0.3
  0.3

Energen Corporation is an oil and natural gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas properties and natural gas. Its operations are conducted through subsidiary, Energen Resources Corporation and occur within the Midland Basin, the Delaware Basin and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico. The Company is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin. As of December 31, 2016, oil, natural gas liquids and natural gas represented approximately 60%, 20% and 20% of its reserves. As of December 31, 2016, its development activities added approximately 327 million barrels of oil equivalent (MMBOE) of reserves from the drilling of 623 gross development, exploratory and service wells and 73 well recompletions and pay-adds.

FINANCIAL RATIOS  of  Energen (EGN)

Valuation Ratios
P/E Ratio -33.8
Price to Sales 10.7
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 19.5
Price to Free Cash Flow -36.7
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 4.3% 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 97.273 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 $5.7 billion.

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COMPANY NEWS

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▶ ETFs with exposure to Energen Corp. : December 7, 2017   [Dec-07-17 01:35PM  Capital Cube]
▶ Analyzing US Gasoline Inventories and Demand   [Dec-06-17 08:43AM  Market Realist]
▶ US Gasoline Inventories Weighed on Crude Oil Futures   [Nov-30-17 12:25PM  Market Realist]
▶ How Lower US Gasoline Inventories Help Crude Oil Futures   [Nov-23-17 01:45PM  Market Realist]
▶ Venezuelas Crude Oil Production Is Vital for Oil Bulls   [Nov-22-17 09:14AM  Market Realist]
▶ US Distillate Inventories Are near a 3-Year Low   [Nov-16-17 08:52AM  Market Realist]
▶ US Dollar Could Pressure Crude Oil Futures This Week   [Nov-14-17 12:15PM  Market Realist]
▶ Energen reports 3Q loss   [06:13AM  Associated Press]
▶ What Analysts Recommend for Occidental Petroleum   [Oct-30-17 10:33AM  Market Realist]
▶ US Crude Oil Production Rebounds from a 4-Year Low   [Oct-26-17 10:49AM  Market Realist]
▶ US Crude Oil Production Is near 4-Year Low   [Oct-19-17 12:07PM  Market Realist]
▶ Why Energen (EGN) Stock Might be a Great Pick   [Oct-18-17 08:33AM  Zacks]
▶ ETFs with exposure to Energen Corp. : October 6, 2017   [Oct-06-17 10:48AM  Capital Cube]
▶ Why Crude Oil Prices Drive Marathon Oil Stock   [Sep-29-17 10:41AM  Market Realist]
▶ Energy M&A Weekly: More Midstream IPOs Expected in 2017   [Sep-18-17 08:23AM  TheStreet.com]
▶ ETFs with exposure to Energen Corp. : September 15, 2017   [Sep-15-17 05:28PM  Capital Cube]
▶ Energen to Present at Barclays CEO Energy-Power Conference   [Sep-01-17 10:48AM  Business Wire]
▶ Energen faces potential proxy fight with hedge fund   [Aug-18-17 01:55PM  American City Business Journals]
▶ Energen meets 2Q profit forecasts   [Aug-08-17 11:56PM  Associated Press]
▶ Energen Corp. Value Analysis (NYSE:EGN) : August 7, 2017   [Aug-07-17 05:36PM  Capital Cube]
▶ Why Crude Oil Prices Drive Marathon Oils Stock Price   [Jul-04-17 07:38AM  Market Realist]
▶ Corvex to Energen: The '70s Are So Over   [01:26PM  TheStreet.com]
▶ Underperforming Energy Sector May Soon See M&A Wave   [Jun-22-17 07:00PM  Oilprice.com]
▶ A Corvex Director Battle At Energen Could Be Next   [Jun-20-17 04:52PM  TheStreet.com]
▶ Energen sticks to plan amid pressure from Corvex   [Jun-19-17 05:55PM  Reuters]
▶ Marathon Oil Stock and How It Performed Last Week   [Jun-13-17 01:06PM  Market Realist]
▶ [$$] Corvex Sees Untapped Value in Energen   [Jun-10-17 12:58AM  Barrons.com]
▶ ETFs with exposure to Energen Corp. : May 31, 2017   [May-31-17 12:30PM  Capital Cube]
▶ 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]
Financial statements 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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