Morgan Stanley increased its position in Energen Corporation (NYSE:EGN) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,536 shares of the oil and gas producer’s stock after buying an additional 23,656 shares during the period. Morgan Stanley owned approximately 0.23% of Energen Corporation worth $12,333,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Two Sigma Investments LP bought a new stake in shares of Energen Corporation during the fourth quarter worth about $411,000. Guggenheim Capital LLC increased its stake in shares of Energen Corporation by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 17,899 shares of the oil and gas producer’s stock worth $1,032,000 after buying an additional 2,424 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Energen Corporation by 8.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,510 shares of the oil and gas producer’s stock worth $952,000 after buying an additional 1,280 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Energen Corporation during the fourth quarter worth about $6,206,000. Finally, Capstone Asset Management Co. increased its stake in shares of Energen Corporation by 7.2% in the first quarter. Capstone Asset Management Co. now owns 8,582 shares of the oil and gas producer’s stock worth $467,000 after buying an additional 580 shares in the last quarter. 95.12% of the stock is currently owned by institutional investors and hedge funds.
Energen Corporation (NYSE EGN) opened at 52.95 on Wednesday. Energen Corporation has a 12 month low of $46.10 and a 12 month high of $64.43. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 75.00 and a beta of 1.93. The company’s 50-day moving average price is $50.31 and its 200 day moving average price is $52.96.
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 (EPS) 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 analysts’ expectations of $166.69 million. During the same quarter in the previous year, the company earned ($0.64) earnings per share. The business’s quarterly revenue was up 87.9% on a year-over-year basis. Analysts forecast that Energen Corporation will post $0.44 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on EGN shares. Zacks Investment Research downgraded Energen Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, April 4th. Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target on shares of Energen Corporation in a research report on Thursday, April 13th. Barclays PLC reissued a “hold” rating and set a $57.00 price target (down previously from $63.00) on shares of Energen Corporation in a research report on Thursday, April 20th. Royal Bank Of Canada set a $66.00 price target on Energen Corporation and gave the stock a “hold” rating in a research report on Thursday, April 20th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $62.00 target price (up previously from $61.00) on shares of Energen Corporation in a report on Saturday, April 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.68.
In other Energen Corporation news, Director Alan A. Kleier purchased 1,000 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was acquired at an average cost of $47.59 per share, for a total transaction of $47,590.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $71,385. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.
About Energen Corporation
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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