Energen Co. (NYSE:EGN) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 3,636,441 shares, a growth of 56.5% from the January 12th total of 2,323,366 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,026,535 shares, the days-to-cover ratio is presently 3.5 days.
EGN has been the topic of a number of research reports. Mizuho set a $72.00 price objective on Energen and gave the stock a “buy” rating in a report on Tuesday, January 16th. Morgan Stanley upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $59.00 price objective (up from $56.00) on shares of Energen in a report on Thursday, November 9th. Deutsche Bank initiated coverage on Energen in a report on Thursday, February 1st. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Barclays upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective on the stock in a report on Monday, November 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Energen presently has an average rating of “Buy” and an average price target of $66.29.
Shares of Energen (EGN) opened at $52.13 on Friday. 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 has a 12 month low of $46.16 and a 12 month high of $60.07. The stock has a market capitalization of $4,903.84, a PE ratio of -473.91 and a beta of 1.73.
In other Energen news, Director Lori A. Lancaster bought 1,000 shares of Energen stock in a transaction that occurred on Friday, December 22nd. The shares were purchased at an average cost 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Corvex Management Lp sold 80,294 shares of the stock in a transaction dated 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.
Hedge funds have recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Energen in the fourth quarter valued at about $109,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Energen in the fourth quarter valued at about $115,000. Cerebellum GP LLC acquired a new stake in shares of Energen in the fourth quarter valued at about $125,000. Calton & Associates Inc. acquired a new stake in shares of Energen in the fourth quarter valued at about $185,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in Energen during the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds own 94.50% of the company’s stock.
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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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