Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Energen Corporation (NYSE:EGN) by 15.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,850 shares of the oil and gas producer’s stock after buying an additional 5,790 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Energen Corporation were worth $2,116,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in EGN. CarVal Investors LLC acquired a new stake in Energen Corporation during the first quarter worth approximately $5,444,000. Rafferty Asset Management LLC acquired a new stake in Energen Corporation during the first quarter worth approximately $909,000. Elliott Management Corp acquired a new stake in Energen Corporation during the first quarter worth approximately $46,274,000. World Asset Management Inc increased its stake in Energen Corporation by 1.8% in the first quarter. World Asset Management Inc now owns 6,588 shares of the oil and gas producer’s stock worth $359,000 after buying an additional 114 shares during the period. Finally, Mitchell Group Inc. increased its stake in Energen Corporation by 3.9% in the first quarter. Mitchell Group Inc. now owns 416,480 shares of the oil and gas producer’s stock worth $22,673,000 after buying an additional 15,470 shares during the period. 95.12% of the stock is owned by institutional investors.
Energen Corporation (EGN) opened at 52.95 on Wednesday. The stock has a 50 day moving average price of $50.31 and a 200 day moving average price of $52.96. Energen Corporation has a 1-year low of $46.10 and a 1-year high of $64.43. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 75.00 and a beta of 1.93.
Energen Corporation (NYSE:EGN) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by $0.01. Energen Corporation had a net margin of 10.69% and a negative return on equity of 2.79%. The business had revenue of $240.90 million for the quarter, compared to analyst estimates of $166.69 million. During the same period in the previous year, the firm posted ($0.64) earnings per share. The firm’s quarterly revenue was up 87.9% on a year-over-year basis. Analysts predict that Energen Corporation will post $0.44 EPS for the current year.
EGN has been the subject of a number of recent analyst reports. BidaskClub downgraded Energen Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Citigroup Inc. raised their price target on Energen Corporation from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Credit Suisse Group restated an “outperform” rating and issued a $73.00 price target on shares of Energen Corporation in a research report on Friday, June 2nd. Williams Capital restated a “buy” rating and issued a $72.00 price target on shares of Energen Corporation in a research report on Friday, May 5th. Finally, ValuEngine cut Energen Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.68.
In other news, Director Alan A. Kleier bought 1,000 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were bought at an average cost of $47.59 per share, with a total value of $47,590.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $71,385. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Energen Corporation Company Profile
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.
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