First Trust Advisors LP Increases Position in Energen Co. (EGN)
First Trust Advisors LP increased its holdings in shares of Energen Co. (NYSE:EGN) by 20.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 151,480 shares of the oil and gas producer’s stock after acquiring an additional 25,752 shares during the period. First Trust Advisors LP’s holdings in Energen were worth $8,721,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. New Mexico Educational Retirement Board purchased a new stake in Energen during the 4th quarter worth $1,387,000. Swiss National Bank boosted its position in Energen by 2.3% during the 4th quarter. Swiss National Bank now owns 165,600 shares of the oil and gas producer’s stock worth $9,534,000 after purchasing an additional 3,700 shares during the period. California Public Employees Retirement System boosted its position in Energen by 3.9% during the 4th quarter. California Public Employees Retirement System now owns 149,700 shares of the oil and gas producer’s stock worth $8,618,000 after purchasing an additional 5,600 shares during the period. Teacher Retirement System of Texas boosted its position in Energen by 309.4% during the 4th quarter. Teacher Retirement System of Texas now owns 32,791 shares of the oil and gas producer’s stock worth $1,888,000 after purchasing an additional 24,782 shares during the period. Finally, Dean Investment Associates LLC purchased a new stake in Energen during the 4th quarter worth $549,000. 94.19% of the stock is owned by hedge funds and other institutional investors.
EGN has been the subject of a number of analyst reports. Imperial Capital reissued an “outperform” rating and issued a $72.00 price objective (up from $68.00) on shares of Energen in a research report on Wednesday, February 21st. Williams Capital set a $74.00 price objective on shares of Energen and gave the company a “buy” rating in a research report on Tuesday, February 20th. Morgan Stanley decreased their price objective on shares of Energen from $75.00 to $73.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. ValuEngine cut shares of Energen from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Energen from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Energen currently has a consensus rating of “Buy” and an average target price of $66.71.
Shares of Energen Co. (NYSE EGN) opened at $55.79 on Friday. The stock has a market cap of $5,434.23, a PE ratio of 73.41 and a beta of 1.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.55. Energen Co. has a 12 month low of $46.16 and a 12 month high of $60.07.
Energen (NYSE:EGN) last issued its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.22. The business had revenue of $271.80 million for the quarter, compared to analyst estimates of $303.95 million. Energen had a net margin of 30.12% and a return on equity of 2.27%. The company’s revenue for the quarter was up 137.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.27) EPS. sell-side analysts forecast that Energen Co. will post 3.13 earnings per share for the current year.
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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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