Energen (NYSE:EGN) reached a new 52-week high and low during trading on Tuesday . The stock traded as low as $66.12 and last traded at $65.69, with a volume of 372506 shares. The stock had previously closed at $65.20.
Several equities research analysts have commented on the company. Imperial Capital reissued an “outperform” rating and issued a $72.00 target price (up from $68.00) on shares of Energen in a report on Wednesday, February 21st. Deutsche Bank started coverage on Energen in a research note on Thursday, February 1st. They issued a “buy” rating and a $70.00 price target for the company. Seaport Global Securities upgraded Energen from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Stephens restated a “buy” rating and issued a $74.00 price target on shares of Energen in a research note on Thursday, March 15th. Finally, Jefferies Group set a $80.00 price target on Energen and gave the stock a “buy” rating in a research note on Monday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $69.00.
The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.55. The stock has a market capitalization of $6,351.76, a P/E ratio of 86.93 and a beta of 1.41.
In other Energen news, insider David A. Godsey sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $57.77, for a total value of $346,620.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman J T. Mcmanus sold 3,116 shares of the company’s stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $58.06, for a total value of $180,914.96. Following the completion of the sale, the chairman now owns 115,794 shares of the company’s stock, valued at approximately $6,722,999.64. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Energen by 32.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,813 shares of the oil and gas producer’s stock worth $335,000 after acquiring an additional 1,436 shares during the period. SG Americas Securities LLC boosted its stake in shares of Energen by 711.2% in the fourth quarter. SG Americas Securities LLC now owns 41,630 shares of the oil and gas producer’s stock worth $2,397,000 after acquiring an additional 36,498 shares during the period. First Trust Advisors LP boosted its stake in shares of Energen by 20.5% in the fourth quarter. First Trust Advisors LP now owns 151,480 shares of the oil and gas producer’s stock worth $8,721,000 after acquiring an additional 25,752 shares during the period. CoreCommodity Management LLC bought a new position in shares of Energen in the fourth quarter worth about $617,000. Finally, Meadow Creek Investment Management LLC boosted its stake in shares of Energen by 18.0% in the fourth quarter. Meadow Creek Investment Management LLC now owns 8,778 shares of the oil and gas producer’s stock worth $505,000 after acquiring an additional 1,342 shares during the period. 93.58% of the stock is owned by hedge funds and other institutional investors.
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Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations 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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