Envestnet Asset Management Inc. decreased its stake in Energen Co. (NYSE:EGN) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,916 shares of the oil and gas producer’s stock after selling 2,299 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Energen were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EGN. Baldwin Investment Management LLC boosted its stake in shares of Energen by 62.5% during the 3rd quarter. Baldwin Investment Management LLC now owns 9,463 shares of the oil and gas producer’s stock worth $517,000 after acquiring an additional 3,640 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Energen by 5.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 507,751 shares of the oil and gas producer’s stock worth $27,763,000 after acquiring an additional 24,713 shares during the period. BB&T Securities LLC bought a new position in shares of Energen during the 3rd quarter worth approximately $206,000. Schwab Charles Investment Management Inc. boosted its stake in Energen by 2.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 446,267 shares of the oil and gas producer’s stock valued at $24,402,000 after purchasing an additional 11,302 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Energen in the 3rd quarter valued at $379,000. 96.05% of the stock is currently owned by institutional investors.
Shares of Energen Co. (NYSE EGN) traded up $0.91 on Thursday, hitting $58.19. The company had a trading volume of 649,666 shares, compared to its average volume of 807,446. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $5,670.00, a P/E ratio of -529.00, a price-to-earnings-growth ratio of 0.97 and a beta of 1.90. Energen Co. has a one year low of $46.16 and a one year high of $60.07.
Energen (NYSE:EGN) last issued its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.05. Energen had a negative return on equity of 0.45% and a negative net margin of 1.17%. The company had revenue of $191.50 million during the quarter, compared to the consensus estimate of $242.81 million. During the same period last year, the business posted ($0.22) earnings per share. Energen’s revenue was up 3.9% on a year-over-year basis. sell-side analysts anticipate that Energen Co. will post 0.5 EPS for the current year.
In other Energen news, Director Lori A. Lancaster acquired 1,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were bought at an average price of $57.79 per share, for a total transaction of $57,790.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $57,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Corvex Management Lp sold 80,294 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $57.56, for a total value of $4,621,722.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. cut Energen from a “neutral” rating to an “underweight” rating and set a $57.00 price target for the company. in a report on Friday, December 15th. Credit Suisse Group started coverage on Energen in a research report on Monday, December 11th. They set a “neutral” rating and a $60.00 price objective on the stock. Wells Fargo & Co started coverage on Energen in a research report on Friday, December 1st. They set a “hold” rating on the stock. Scotiabank reiterated a “buy” rating and issued a $63.00 price target on shares of Energen in a research report on Wednesday, November 22nd. Finally, Barclays upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 price target on the stock in a research report on Monday, November 20th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.81.
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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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