Russell Investments Group Ltd. decreased its holdings in Energen Co. (NYSE:EGN) by 82.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,167 shares of the oil and gas producer’s stock after selling 55,614 shares during the quarter. Russell Investments Group Ltd.’s holdings in Energen were worth $665,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EGN. Schwab Charles Investment Management Inc. increased its stake in Energen by 43.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 434,965 shares of the oil and gas producer’s stock worth $21,475,000 after buying an additional 130,899 shares in the last quarter. Legal & General Group Plc increased its stake in Energen by 12.2% during the 2nd quarter. Legal & General Group Plc now owns 115,413 shares of the oil and gas producer’s stock worth $5,698,000 after buying an additional 12,542 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Energen during the 2nd quarter worth approximately $798,000. Utah Retirement Systems increased its stake in Energen by 1.1% during the 2nd quarter. Utah Retirement Systems now owns 17,822 shares of the oil and gas producer’s stock worth $880,000 after buying an additional 200 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Energen by 22.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 6,990 shares of the oil and gas producer’s stock worth $345,000 after buying an additional 1,303 shares in the last quarter. 96.05% of the stock is owned by institutional investors.
Energen Co. (NYSE:EGN) opened at $57.81 on Thursday. Energen Co. has a twelve month low of $46.16 and a twelve month high of $60.07. The company has a market capitalization of $5,620.00, a P/E ratio of -525.55, a P/E/G ratio of 0.96 and a beta of 1.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.58 and a quick ratio of 0.53.
Energen (NYSE:EGN) last released its quarterly earnings data on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $242.81 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts anticipate that Energen Co. will post 0.5 EPS for the current fiscal year.
In other news, Director Lori A. Lancaster purchased 1,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were bought at an average cost of $57.79 per share, for a total transaction of $57,790.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $57,790. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Corvex Management Lp sold 80,294 shares of the company’s 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. Corporate insiders own 1.00% of the company’s stock.
EGN has been the subject of several research reports. Wells Fargo & Co initiated coverage on Energen in a research note on Friday, December 1st. They set a “hold” rating for the company. Credit Suisse Group initiated coverage on Energen in a research note on Monday, December 11th. They set a “neutral” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. lowered Energen from a “neutral” rating to an “underweight” rating and set a $57.00 price objective for the company. in a research note on Friday, December 15th. Barclays upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective for the company in a research note on Monday, November 20th. Finally, Citigroup upped their price target on Energen from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $64.95.
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Energen 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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