Ashburton Jersey Ltd reduced its position in Energen Co. (NYSE:EGN) by 8.3% in the 4th quarter, HoldingsChannel reports. The fund owned 40,756 shares of the oil and gas producer’s stock after selling 3,700 shares during the period. Energen accounts for 0.9% of Ashburton Jersey Ltd’s portfolio, making the stock its 20th biggest position. Ashburton Jersey Ltd’s holdings in Energen were worth $2,346,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in shares of Energen by 55.7% in the third quarter. Comerica Bank now owns 127,313 shares of the oil and gas producer’s stock valued at $6,507,000 after acquiring an additional 45,547 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Energen by 32.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,813 shares of the oil and gas producer’s stock valued at $335,000 after acquiring an additional 1,436 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Energen by 711.2% in the fourth quarter. SG Americas Securities LLC now owns 41,630 shares of the oil and gas producer’s stock valued at $2,397,000 after acquiring an additional 36,498 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Energen in the third quarter valued at about $15,830,000. Finally, Legal & General Group Plc raised its holdings in shares of Energen by 6.8% in the third quarter. Legal & General Group Plc now owns 123,271 shares of the oil and gas producer’s stock valued at $6,739,000 after acquiring an additional 7,858 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.
In other Energen news, Director Jonathan Z. Cohen purchased 17,500 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were acquired at an average price of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the purchase, the director now owns 17,500 shares of the company’s stock, valued at $1,003,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Corvex Management Lp sold 80,294 shares of the business’s 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. 1.00% of the stock is currently owned by insiders.
Several research firms recently weighed in on EGN. Morgan Stanley upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective for the company in a report on Wednesday, January 24th. KeyCorp set a $70.00 target price on shares of Energen and gave the stock a “buy” rating in a report on Sunday, January 21st. Mizuho set a $72.00 target price on shares of Energen and gave the stock a “buy” rating in a report on Tuesday, January 16th. Stephens reiterated a “buy” rating and issued a $74.00 target price on shares of Energen in a report on Thursday, March 15th. Finally, JPMorgan Chase & Co. set a $62.00 target price on shares of Energen and gave the stock a “sell” rating in a report on Monday, March 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Energen has a consensus rating of “Buy” and a consensus target price of $67.36.
Shares of EGN stock opened at $56.43 on Wednesday. Energen Co. has a 52 week low of $46.16 and a 52 week high of $60.07. The firm has a market capitalization of $5,583.24, a PE ratio of 18.03 and a beta of 1.61. The company has a current ratio of 0.59, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23.
Energen (NYSE:EGN) last issued its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.22. Energen had a return on equity of 2.27% and a net margin of 30.12%. The business had revenue of $271.80 million for the quarter, compared to analyst estimates of $303.95 million. During the same quarter in the previous year, the firm earned ($0.27) earnings per share. The company’s revenue was up 137.3% on a year-over-year basis. research analysts forecast that Energen Co. will post 3.17 EPS for the current fiscal year.
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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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