Energen Corp. (EGN) Shares Bought by BlackRock Advisors LLC
BlackRock Advisors LLC increased its position in shares of Energen Corp. (NYSE:EGN) by 16.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 903,382 shares of the company’s stock after buying an additional 130,553 shares during the period. BlackRock Advisors LLC owned approximately 0.93% of Energen Corp. worth $43,552,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fox Run Management L.L.C. bought a new position in Energen Corp. during the first quarter worth approximately $293,000. Texas Permanent School Fund increased its position in Energen Corp. by 17.5% in the first quarter. Texas Permanent School Fund now owns 76,628 shares of the company’s stock worth $2,804,000 after buying an additional 11,415 shares in the last quarter. Virginia Retirement System bought a new position in Energen Corp. during the first quarter worth approximately $937,000. Prudential Financial Inc. increased its position in Energen Corp. by 31.4% in the first quarter. Prudential Financial Inc. now owns 63,199 shares of the company’s stock worth $2,312,000 after buying an additional 15,110 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Energen Corp. by 32.8% in the first quarter. Franklin Resources Inc. now owns 931,207 shares of the company’s stock worth $34,073,000 after buying an additional 230,207 shares in the last quarter. 93.40% of the stock is owned by institutional investors.
Shares of Energen Corp. (NYSE:EGN) opened at 52.68 on Tuesday. The firm’s market cap is $5.11 billion. The firm has a 50 day moving average of $54.41 and a 200 day moving average of $45.43. Energen Corp. has a 52 week low of $20.76 and a 52 week high of $61.98.
Energen Corp. (NYSE:EGN) last announced its earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.09. The firm had revenue of $105.80 million for the quarter, compared to the consensus estimate of $144.31 million. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. The business’s quarterly revenue was down 37.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. Equities analysts predict that Energen Corp. will post ($1.37) earnings per share for the current fiscal year.
EGN has been the subject of a number of research analyst reports. KLR Group downgraded shares of Energen Corp. from a “buy” rating to an “accumulate” rating and set a $51.00 price objective for the company. in a research note on Thursday, May 26th. Deutsche Bank AG boosted their target price on Energen Corp. from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Tuesday, June 14th. Stifel Nicolaus began coverage on Energen Corp. in a report on Thursday, June 16th. They set a “buy” rating and a $55.00 target price for the company. Barclays PLC began coverage on Energen Corp. in a report on Tuesday, June 21st. They set an “equal weight” rating and a $50.00 target price for the company. Finally, Wunderlich boosted their target price on Energen Corp. from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, June 21st. Twelve analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $55.63.
In related news, CEO J T. Mcmanus sold 15,000 shares of Energen Corp. stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $48.05, for a total value of $720,750.00. Following the transaction, the chief executive officer now owns 103,789 shares in the company, valued at approximately $4,987,061.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Magnus James Gorrie bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The stock was purchased at an average price of $47.26 per share, for a total transaction of $47,260.00. Following the acquisition, the director now directly owns 7,900 shares in the company, valued at $373,354. The disclosure for this purchase can be found here. 1.02% of the stock is currently owned by corporate insiders.
Energen Corp. Company Profile
Energen Corporation (Energen) 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 in the Permian Basin in west Texas and the San Juan Basin in New Mexico. It is focused on increasing its oil, natural gas liquids and natural gas production and proved reserves through active development and/or exploratory programs in the Permian Basin.
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