Cramer Rosenthal Mcglynn LLC decreased its position in Energen Co. (NYSE:EGN) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,433,141 shares of the oil and gas producer’s stock after selling 71,575 shares during the quarter. Energen accounts for approximately 1.3% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 22nd biggest holding. Cramer Rosenthal Mcglynn LLC owned approximately 1.47% of Energen worth $78,364,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners grew its holdings in shares of Energen by 5.7% in the 2nd quarter. Boston Partners now owns 9,070,795 shares of the oil and gas producer’s stock worth $447,825,000 after purchasing an additional 492,092 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Energen by 34.9% in the 2nd quarter. Victory Capital Management Inc. now owns 3,832,506 shares of the oil and gas producer’s stock worth $189,211,000 after purchasing an additional 990,600 shares during the last quarter. State Street Corp grew its holdings in shares of Energen by 0.7% in the 2nd quarter. State Street Corp now owns 3,330,220 shares of the oil and gas producer’s stock worth $164,414,000 after purchasing an additional 24,037 shares during the last quarter. Systematic Financial Management LP grew its holdings in shares of Energen by 19.5% in the 3rd quarter. Systematic Financial Management LP now owns 1,314,711 shares of the oil and gas producer’s stock worth $71,888,000 after purchasing an additional 214,802 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Energen by 26.0% in the 2nd quarter. Franklin Resources Inc. now owns 1,240,582 shares of the oil and gas producer’s stock worth $61,248,000 after purchasing an additional 255,875 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.
In other news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $57.01, for a total value of $142,525.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Energen (NYSE:EGN) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The company had revenue of $191.50 million during the quarter, compared to analysts’ expectations of $242.81 million. Energen had a negative return on equity of 0.45% and a negative net margin of 1.17%. Energen’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.22) EPS. sell-side analysts predict that Energen Co. will post 0.46 EPS for the current fiscal year.
EGN has been the topic of several research reports. Zacks Investment Research downgraded shares of Energen from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Morgan Stanley upped their price target on shares of Energen from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 31st. Barclays upped their price target on shares of Energen from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 11th. SunTrust Banks reiterated a “buy” rating and set a $70.00 price target on shares of Energen in a research report on Monday, October 2nd. Finally, Bank of America initiated coverage on shares of Energen in a research report on Monday, October 16th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $66.17.
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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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