State Treasurer State of Michigan boosted its stake in Energen Corporation (NYSE:EGN) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,000 shares of the oil and gas producer’s stock after buying an additional 600 shares during the period. State Treasurer State of Michigan’s holdings in Energen Corporation were worth $1,975,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EGN. BlackRock Inc. increased its position in shares of Energen Corporation by 5,491.7% in the first quarter. BlackRock Inc. now owns 9,266,613 shares of the oil and gas producer’s stock valued at $504,475,000 after buying an additional 9,100,891 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Energen Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 9,158,242 shares of the oil and gas producer’s stock valued at $498,574,000 after buying an additional 466,977 shares in the last quarter. State Street Corp increased its position in shares of Energen Corporation by 4.1% in the first quarter. State Street Corp now owns 3,306,183 shares of the oil and gas producer’s stock valued at $179,991,000 after buying an additional 131,399 shares in the last quarter. Credit Suisse AG increased its position in shares of Energen Corporation by 2,708.2% in the first quarter. Credit Suisse AG now owns 2,993,073 shares of the oil and gas producer’s stock valued at $162,943,000 after buying an additional 2,886,489 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Energen Corporation by 14.5% in the first quarter. Victory Capital Management Inc. now owns 2,841,906 shares of the oil and gas producer’s stock valued at $154,713,000 after buying an additional 360,145 shares in the last quarter. 95.64% of the stock is owned by institutional investors.
Energen Corporation (NYSE EGN) traded up 0.86% during trading on Friday, hitting $49.22. 1,697,110 shares of the stock were exchanged. Energen Corporation has a 12 month low of $46.16 and a 12 month high of $64.44. The stock has a market cap of $4.78 billion, a P/E ratio of 77.88 and a beta of 1.93. The stock’s 50 day moving average price is $49.96 and its 200 day moving average price is $52.68.
Energen Corporation (NYSE:EGN) last issued its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $256.82 million during the quarter, compared to analyst estimates of $222.60 million. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The business’s revenue was up 142.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. Analysts forecast that Energen Corporation will post $0.45 EPS for the current fiscal year.
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Several research analysts have commented on EGN shares. Zacks Investment Research downgraded shares of Energen Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Barclays PLC reissued a “hold” rating and set a $63.00 price objective on shares of Energen Corporation in a report on Wednesday, May 24th. BMO Capital Markets reissued a “hold” rating and set a $70.00 price objective on shares of Energen Corporation in a report on Friday, May 5th. Williams Capital increased their price objective on shares of Energen Corporation from $72.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, June 20th. Finally, Scotiabank reissued a “buy” rating and set a $56.00 price objective on shares of Energen Corporation in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $66.59.
In other Energen Corporation news, Director Alan A. Kleier acquired 1,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was purchased at an average price of $47.59 per share, with a total value of $47,590.00. Following the completion of the acquisition, the director now directly owns 1,500 shares in the company, valued at approximately $71,385. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.
About Energen Corporation
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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