Creative Planning bought a new stake in Energen Co. (NYSE:EGN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,748 shares of the oil and gas producer’s stock, valued at approximately $237,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Third Point LLC bought a new stake in shares of Energen in the second quarter valued at about $98,307,000. Bank of America Corp DE lifted its stake in shares of Energen by 30.0% in the second quarter. Bank of America Corp DE now owns 739,996 shares of the oil and gas producer’s stock valued at $53,886,000 after buying an additional 170,832 shares during the period. Morgan Stanley lifted its stake in shares of Energen by 103.5% in the second quarter. Morgan Stanley now owns 686,810 shares of the oil and gas producer’s stock valued at $50,014,000 after buying an additional 349,259 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Energen by 6.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 503,763 shares of the oil and gas producer’s stock valued at $36,685,000 after buying an additional 28,575 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Energen by 2.5% in the first quarter. Principal Financial Group Inc. now owns 423,854 shares of the oil and gas producer’s stock valued at $26,643,000 after buying an additional 10,518 shares during the period. Institutional investors and hedge funds own 92.66% of the company’s stock.
Several equities research analysts recently weighed in on EGN shares. Jefferies Financial Group set a $85.00 target price on shares of Energen and gave the company a “buy” rating in a research note on Wednesday, July 18th. Williams Capital cut shares of Energen from a “buy” rating to a “hold” rating and set a $68.00 target price for the company. in a research note on Friday, July 20th. ValuEngine cut shares of Energen from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Royal Bank of Canada increased their target price on shares of Energen to $81.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 15th. Finally, Johnson Rice cut shares of Energen from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $78.35.
Shares of EGN opened at $73.04 on Friday. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 97.39 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.43 and a quick ratio of 0.50. Energen Co. has a 12 month low of $47.81 and a 12 month high of $89.83.
Energen (NYSE:EGN) last announced its quarterly earnings results on Tuesday, November 6th. The oil and gas producer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.11. The firm had revenue of $380.88 million during the quarter, compared to analysts’ expectations of $364.64 million. Energen had a net margin of 31.37% and a return on equity of 8.70%. As a group, sell-side analysts anticipate that Energen Co. will post 3.56 earnings per share for the current fiscal year.
In other news, VP Russell E. Jr. Lynch sold 2,233 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $77.80, for a total transaction of $173,727.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carl C. Icahn acquired 200,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were purchased at an average cost of $71.57 per share, with a total value of $14,314,000.00. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.
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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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