Louisiana State Employees Retirement System increased its position in Energen Corporation (NYSE:EGN) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,300 shares of the oil and gas producer’s stock after buying an additional 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Energen Corporation were worth $1,249,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of EGN. LS Investment Advisors LLC raised its position in shares of Energen Corporation by 20.3% in the second quarter. LS Investment Advisors LLC now owns 7,760 shares of the oil and gas producer’s stock valued at $383,000 after buying an additional 1,310 shares during the period. Ardevora Asset Management LLP increased its stake in shares of Energen Corporation by 24.3% in the second quarter. Ardevora Asset Management LLP now owns 653,200 shares of the oil and gas producer’s stock valued at $32,248,000 after buying an additional 127,600 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Energen Corporation by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 35,798 shares of the oil and gas producer’s stock valued at $1,767,000 after buying an additional 1,523 shares during the period. OLD National Bancorp IN increased its stake in shares of Energen Corporation by 36.9% in the second quarter. OLD National Bancorp IN now owns 5,402 shares of the oil and gas producer’s stock valued at $267,000 after buying an additional 1,455 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Energen Corporation during the second quarter valued at about $371,000. 97.71% of the stock is currently owned by hedge funds and other institutional investors.
Energen Corporation (NYSE:EGN) traded up 2.20% during midday trading on Friday, reaching $50.26. The company’s stock had a trading volume of 1,683,158 shares. The company’s 50-day moving average is $50.04 and its 200 day moving average is $52.50. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 79.53 and a beta of 1.93. Energen Corporation has a 12-month low of $46.16 and a 12-month high of $64.44.
Energen Corporation (NYSE:EGN) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The firm had revenue of $256.82 million during the quarter, compared to analysts’ expectations of $222.60 million. During the same period in the previous year, the company earned ($0.28) earnings per share. Energen Corporation’s quarterly revenue was up 142.8% compared to the same quarter last year. Equities analysts forecast that Energen Corporation will post $0.42 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. TheStreet upgraded Energen Corporation from a “d+” rating to a “c-” rating in a research note on Thursday, May 4th. BMO Capital Markets reissued a “hold” rating and set a $70.00 price objective on shares of Energen Corporation in a report on Thursday, June 22nd. ValuEngine raised Energen Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Seaport Global Securities raised Energen Corporation from a “sell” rating to a “neutral” rating and raised their price target for the company from $38.00 to $46.00 in a report on Friday, August 11th. Finally, Zacks Investment Research raised Energen Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $66.23.
In related news, Director Alan A. Kleier purchased 1,000 shares of Energen Corporation stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average cost of $47.59 per share, with a total value of $47,590.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $71,385. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.
Energen Corporation Company Profile
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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