Systematic Financial Management LP raised its stake in Energen Corporation (NYSE:EGN) by 19.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,314,711 shares of the oil and gas producer’s stock after purchasing an additional 214,802 shares during the period. Energen Corporation accounts for approximately 1.5% of Systematic Financial Management LP’s holdings, making the stock its 3rd biggest holding. Systematic Financial Management LP owned 1.35% of Energen Corporation worth $71,888,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EGN. Creative Planning increased its position in shares of Energen Corporation by 8.0% in the 2nd quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock worth $167,000 after purchasing an additional 250 shares during the last quarter. Ironwood Investment Counsel LLC bought a new stake in shares of Energen Corporation in the 3rd quarter worth about $219,000. Optimum Investment Advisors bought a new stake in shares of Energen Corporation in the 2nd quarter worth about $228,000. Oppenheimer Asset Management Inc. increased its position in shares of Energen Corporation by 12.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,773 shares of the oil and gas producer’s stock worth $236,000 after purchasing an additional 527 shares during the last quarter. Finally, Flinton Capital Management LLC increased its position in shares of Energen Corporation by 64.7% in the 2nd quarter. Flinton Capital Management LLC now owns 4,848 shares of the oil and gas producer’s stock worth $239,000 after purchasing an additional 1,904 shares during the last quarter. 97.21% of the stock is owned by institutional investors.
EGN has been the subject of several research analyst reports. Citigroup Inc. boosted their target price on shares of Energen Corporation from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Zacks Investment Research downgraded shares of Energen Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Jefferies Group LLC started coverage on shares of Energen Corporation in a research report on Monday, October 9th. They set a “buy” rating and a $68.00 price objective for the company. Barclays PLC set a $57.00 price objective on shares of Energen Corporation and gave the company a “hold” rating in a research report on Tuesday, August 15th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $59.00 price objective (up previously from $56.00) on shares of Energen Corporation in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $65.48.
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Shares of Energen Corporation (EGN) traded up $1.16 during trading hours on Monday, hitting $54.95. 708,200 shares of the stock were exchanged, compared to its average volume of 1,367,224. Energen Corporation has a 12 month low of $46.16 and a 12 month high of $64.44. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The company had revenue of $191.50 million during the quarter, compared to analyst estimates of $242.81 million. Energen Corporation had a negative net margin of 1.17% and a negative return on equity of 0.45%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.22) EPS. equities analysts forecast that Energen Corporation will post 0.41 earnings per share for the current year.
In other news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $57.01, for a total value of $142,525.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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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