Vanguard Group Inc. Trims Position in Energen Corporation (EGN)
Vanguard Group Inc. lowered its stake in shares of Energen Corporation (NYSE:EGN) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,516,277 shares of the oil and gas producer’s stock after selling 641,965 shares during the quarter. Vanguard Group Inc. owned approximately 8.76% of Energen Corporation worth $420,448,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Morgan Stanley grew its position in Energen Corporation by 11.7% during the first quarter. Morgan Stanley now owns 226,536 shares of the oil and gas producer’s stock valued at $12,333,000 after buying an additional 23,656 shares during the period. Janus Capital Management LLC grew its position in Energen Corporation by 60.5% during the first quarter. Janus Capital Management LLC now owns 56,000 shares of the oil and gas producer’s stock valued at $3,049,000 after buying an additional 21,100 shares during the period. Chicago Equity Partners LLC grew its position in Energen Corporation by 170.6% during the second quarter. Chicago Equity Partners LLC now owns 88,670 shares of the oil and gas producer’s stock valued at $4,378,000 after buying an additional 55,905 shares during the period. First Trust Advisors LP bought a new position in Energen Corporation during the second quarter valued at about $4,944,000. Finally, William Blair Investment Management LLC bought a new position in Energen Corporation during the second quarter valued at about $1,146,000. Institutional investors own 94.01% of the company’s stock.
Energen Corporation (EGN) opened at 53.59 on Friday. The stock has a 50 day moving average of $52.07 and a 200-day moving average of $52.23. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 84.79 and a beta of 1.95. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.44.
Energen Corporation (NYSE:EGN) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. The company had revenue of $256.82 million during the quarter, compared to the consensus estimate of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The firm’s revenue was up 142.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.28) EPS. On average, equities research analysts anticipate that Energen Corporation will post $0.40 earnings per share for the current fiscal year.
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Several research firms recently weighed in on EGN. SunTrust Banks, Inc. restated a “buy” rating and set a $70.00 price target on shares of Energen Corporation in a research report on Monday. Mizuho reiterated a “buy” rating and set a $69.00 target price on shares of Energen Corporation in a research report on Friday, September 29th. Stifel Nicolaus reiterated a “buy” rating and set a $79.00 target price on shares of Energen Corporation in a research report on Sunday, September 3rd. Morgan Stanley increased their target price on shares of Energen Corporation from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 31st. Finally, Imperial Capital started coverage on shares of Energen Corporation in a research report on Tuesday, August 22nd. They set an “outperform” rating and a $61.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. Energen Corporation has a consensus rating of “Buy” and an average target price of $65.91.
Energen Corporation Profile
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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