Panagora Asset Management Inc. Reduces Holdings in Energen Co. (EGN)

Panagora Asset Management Inc. decreased its position in shares of Energen Co. (NYSE:EGN) by 74.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,001 shares of the oil and gas producer’s stock after selling 139,447 shares during the quarter. Panagora Asset Management Inc.’s holdings in Energen were worth $4,136,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in EGN. Third Point LLC acquired a new stake in shares of Energen during the second quarter worth about $98,307,000. Alpine Associates Management Inc. acquired a new stake in shares of Energen during the third quarter worth about $93,772,000. SG Americas Securities LLC boosted its stake in shares of Energen by 763.0% during the third quarter. SG Americas Securities LLC now owns 497,050 shares of the oil and gas producer’s stock worth $42,831,000 after buying an additional 439,454 shares during the period. Chicago Capital Management LLC acquired a new stake in shares of Energen during the third quarter worth about $32,881,000. Finally, Morgan Stanley boosted its stake in shares of Energen by 103.5% during the second quarter. Morgan Stanley now owns 686,810 shares of the oil and gas producer’s stock worth $50,014,000 after buying an additional 349,259 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Shares of NYSE:EGN opened at $72.12 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.43 and a quick ratio of 0.38. The stock has a market capitalization of $7.03 billion, a P/E ratio of 96.16 and a beta of 1.50. Energen Co. has a 52 week low of $47.81 and a 52 week high of $89.83.

Energen (NYSE:EGN) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas producer reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.11. The firm had revenue of $380.88 million during the quarter, compared to the consensus estimate of $364.64 million. Energen had a net margin of 31.37% and a return on equity of 8.70%. On average, sell-side analysts anticipate that Energen Co. will post 3.57 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Energen from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Morgan Stanley decreased their target price on shares of Energen from $83.00 to $74.00 and set a “hold” rating for the company in a research note on Tuesday, November 20th. National Alliance Securities downgraded shares of Energen from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. SunTrust Banks reiterated a “buy” rating and set a $113.00 target price on shares of Energen in a research note on Thursday, August 16th. Finally, Argus downgraded shares of Energen from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. Energen has a consensus rating of “Hold” and a consensus target price of $79.17.

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Energen Profile

Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations 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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Institutional Ownership by Quarter for Energen (NYSE:EGN)

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