Energen Corporation Target of Unusually High Options Trading (EGN)

Energen Corporation (NYSE:EGN) was the recipient of some unusual options trading activity on Monday. Investors bought 13,292 call options on the stock. This represents an increase of approximately 1,113% compared to the average daily volume of 1,096 call options.

In related news, Director Alan A. Kleier acquired 1,000 shares of Energen Corporation stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average price of $47.59 per share, for a total transaction of $47,590.00. Following the completion of the purchase, the director now directly owns 1,500 shares of the company’s stock, valued at $71,385. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in EGN. Guggenheim Capital LLC increased its stake in shares of Energen Corporation by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 17,899 shares of the oil and gas producer’s stock valued at $1,032,000 after buying an additional 2,424 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Energen Corporation during the fourth quarter valued at about $6,206,000. Capstone Asset Management Co. increased its stake in shares of Energen Corporation by 7.2% in the first quarter. Capstone Asset Management Co. now owns 8,582 shares of the oil and gas producer’s stock valued at $467,000 after buying an additional 580 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Energen Corporation by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 24,500 shares of the oil and gas producer’s stock valued at $1,334,000 after buying an additional 500 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its stake in shares of Energen Corporation by 10.8% in the first quarter. Glen Harbor Capital Management LLC now owns 5,152 shares of the oil and gas producer’s stock valued at $280,000 after buying an additional 504 shares during the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.

Shares of Energen Corporation (EGN) opened at 49.22 on Friday. Energen Corporation has a 12-month low of $46.16 and a 12-month high of $64.44. The company has a 50-day moving average of $49.96 and a 200-day moving average of $52.68. The stock has a market capitalization of $4.78 billion, a P/E ratio of 77.88 and a beta of 1.93.

Energen Corporation (NYSE:EGN) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $256.82 million for the quarter, compared to the consensus estimate of $222.60 million. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. Energen Corporation’s quarterly revenue was up 142.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.28) earnings per share. Equities analysts expect that Energen Corporation will post $0.45 earnings per share for the current fiscal year.

Several brokerages recently commented on EGN. Credit Suisse Group reiterated an “outperform” rating and issued a $73.00 price objective on shares of Energen Corporation in a research note on Friday, June 2nd. Barclays PLC reiterated a “hold” rating and issued a $63.00 price objective on shares of Energen Corporation in a research note on Wednesday, May 24th. Royal Bank Of Canada set a $65.00 price objective on shares of Energen Corporation and gave the company a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $81.00 price objective on shares of Energen Corporation in a research note on Friday, May 26th. Finally, Wolfe Research began coverage on shares of Energen Corporation in a research note on Thursday, June 15th. They issued a “market perform” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.59.

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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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