ING Groep NV acquired a new stake in shares of Energen Corporation (NYSE:EGN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,807 shares of the oil and gas producer’s stock, valued at approximately $583,000.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Energen Corporation by 5,491.7% in the first quarter. BlackRock Inc. now owns 9,266,613 shares of the oil and gas producer’s stock valued at $504,475,000 after buying an additional 9,100,891 shares during the period. Vanguard Group Inc. increased its stake in shares of Energen Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 9,158,242 shares of the oil and gas producer’s stock valued at $498,574,000 after buying an additional 466,977 shares during the period. State Street Corp increased its stake in shares of Energen Corporation by 4.1% in the first quarter. State Street Corp now owns 3,306,183 shares of the oil and gas producer’s stock valued at $179,991,000 after buying an additional 131,399 shares during the period. Credit Suisse AG increased its stake in shares of Energen Corporation by 2,708.2% in the first quarter. Credit Suisse AG now owns 2,993,073 shares of the oil and gas producer’s stock valued at $162,943,000 after buying an additional 2,886,489 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Energen Corporation by 14.5% in the first quarter. Victory Capital Management Inc. now owns 2,841,906 shares of the oil and gas producer’s stock valued at $154,713,000 after buying an additional 360,145 shares during the period. 95.12% of the stock is currently owned by institutional investors.
Shares of Energen Corporation (EGN) traded up 3.21% during midday trading on Friday, reaching $49.80. 672,704 shares of the company traded hands. The stock has a 50 day moving average price of $50.31 and a 200 day moving average price of $52.96. The firm has a market capitalization of $4.84 billion, a PE ratio of 70.54 and a beta of 1.93. Energen Corporation has a 1-year low of $46.10 and a 1-year high of $64.43.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings data on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $240.90 million for the quarter, compared to analyst estimates of $166.69 million. Energen Corporation had a negative return on equity of 2.79% and a net margin of 10.69%. The firm’s revenue for the quarter was up 87.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.64) earnings per share. Analysts expect that Energen Corporation will post $0.45 earnings per share for the current fiscal year.
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Several analysts recently commented on EGN shares. Zacks Investment Research downgraded shares of Energen Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Barclays PLC reaffirmed a “hold” rating and set a $63.00 price target on shares of Energen Corporation in a report on Wednesday, May 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $70.00 price target on shares of Energen Corporation in a report on Friday, May 5th. Williams Capital raised their price target on shares of Energen Corporation from $72.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, June 20th. Finally, Scotiabank reaffirmed a “buy” rating and set a $56.00 price target on shares of Energen Corporation in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. Energen Corporation presently has a consensus rating of “Buy” and an average target price of $66.68.
In other Energen Corporation news, Director Alan A. Kleier acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average cost of $47.59 per share, with a total value of $47,590.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $71,385. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.
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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