Systematic Financial Management LP lifted its position in shares of Energen Co. (NYSE:EGN) by 2.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,344,013 shares of the oil and gas producer’s stock after purchasing an additional 29,302 shares during the quarter. Energen comprises 1.5% of Systematic Financial Management LP’s portfolio, making the stock its 3rd biggest holding. Systematic Financial Management LP’s holdings in Energen were worth $77,375,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in EGN. SeaCrest Wealth Management LLC acquired a new position in shares of Energen during the 4th quarter worth about $109,000. Cerebellum GP LLC acquired a new position in shares of Energen during the 4th quarter worth about $125,000. Calton & Associates Inc. acquired a new position in shares of Energen during the 4th quarter worth about $185,000. ZWJ Investment Counsel Inc. acquired a new position in shares of Energen during the 4th quarter worth about $201,000. Finally, Cadence Capital Management LLC acquired a new position in shares of Energen during the 3rd quarter worth about $203,000. Institutional investors own 94.19% of the company’s stock.
In other Energen news, major shareholder Corvex Management Lp sold 80,294 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $57.56, for a total transaction of $4,621,722.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lori A. Lancaster bought 1,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were acquired at an average price of $57.79 per share, for a total transaction of $57,790.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $57,790. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
Several research analysts have recently weighed in on EGN shares. Wells Fargo & Co started coverage on shares of Energen in a research note on Friday, December 1st. They set a “hold” rating on the stock. JPMorgan Chase & Co. lowered shares of Energen from a “neutral” rating to an “underweight” rating and set a $57.00 price target on the stock. in a research note on Friday, December 15th. Credit Suisse Group assumed coverage on shares of Energen in a research note on Monday, December 11th. They issued a “neutral” rating and a $60.00 price target on the stock. Seaport Global Securities upgraded shares of Energen from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Finally, Barclays upgraded shares of Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 price target on the stock in a research note on Monday, November 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Energen currently has an average rating of “Buy” and an average price target of $66.29.
Energen Co. (NYSE:EGN) opened at $52.18 on Monday. Energen Co. has a 52-week low of $46.16 and a 52-week high of $60.07. The stock has a market cap of $5,072.00, a P/E ratio of -474.36 and a beta of 1.73. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.24.
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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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