Teachers Retirement System of The State of Kentucky Purchases 3,500 Shares of Energen Co. (EGN)
Teachers Retirement System of The State of Kentucky lifted its position in shares of Energen Co. (NYSE:EGN) by 20.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,320 shares of the oil and gas producer’s stock after buying an additional 3,500 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Energen were worth $1,170,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Energen by 32.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,813 shares of the oil and gas producer’s stock worth $335,000 after buying an additional 1,436 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Energen by 711.2% during the fourth quarter. SG Americas Securities LLC now owns 41,630 shares of the oil and gas producer’s stock worth $2,397,000 after buying an additional 36,498 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Energen during the third quarter worth about $15,830,000. Legal & General Group Plc grew its holdings in shares of Energen by 6.8% during the third quarter. Legal & General Group Plc now owns 123,271 shares of the oil and gas producer’s stock worth $6,739,000 after buying an additional 7,858 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Energen by 2.3% during the fourth quarter. Swiss National Bank now owns 165,600 shares of the oil and gas producer’s stock worth $9,534,000 after buying an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.
A number of equities research analysts have recently commented on EGN shares. Wells Fargo started coverage on shares of Energen in a report on Friday, December 1st. They set a “hold” rating for the company. JPMorgan Chase & Co. downgraded shares of Energen from a “neutral” rating to an “underweight” rating and set a $57.00 price target for the company. in a report on Friday, December 15th. Credit Suisse Group started coverage on shares of Energen in a report on Monday, December 11th. They set a “neutral” rating and a $60.00 price target for the company. Seaport Global Securities upgraded shares of Energen from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Finally, Morgan Stanley upgraded shares of Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 target price for the company in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $67.36.
Energen (NYSE:EGN) last announced its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.22. The firm had revenue of $271.80 million for the quarter, compared to analysts’ expectations of $303.95 million. Energen had a net margin of 30.12% and a return on equity of 2.27%. Energen’s revenue was up 137.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.27) earnings per share. equities research analysts predict that Energen Co. will post 3.17 EPS for the current year.
In other Energen news, Director Lori A. Lancaster purchased 1,000 shares of Energen stock in a transaction on Friday, December 22nd. The shares were purchased at an average cost of $57.79 per share, with a total value of $57,790.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $57,790. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Corvex Management Lp sold 80,294 shares of Energen stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $57.56, for a total transaction of $4,621,722.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
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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