New York State Teachers Retirement System continued to hold its position in Energen Corp. (NYSE:EGN) during the second quarter, Holdings Channel reports. The firm owned 140,436 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Energen Corp. were worth $6,770,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 valued at $2,312,000 after buying an additional 15,110 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Energen Corp. by 3,371.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 520,790 shares of the company’s stock worth $19,056,000 after buying an additional 505,790 shares in the last quarter. Bogle Investment Management L P DE bought a new stake in Energen Corp. during the first quarter worth approximately $1,484,000. HBK Investments L P boosted its stake in Energen Corp. by 125.5% in the first quarter. HBK Investments L P now owns 100,289 shares of the company’s stock worth $3,670,000 after buying an additional 55,815 shares in the last quarter. Finally, Elliott Management Corp bought a new stake in Energen Corp. during the first quarter worth approximately $6,037,000. 93.37% of the stock is owned by institutional investors and hedge funds.
Shares of Energen Corp. (NYSE:EGN) traded up 1.91% during midday trading on Friday, hitting $57.72. The stock had a trading volume of 760,255 shares. Energen Corp. has a 12-month low of $20.76 and a 12-month high of $61.98. The firm has a 50-day moving average of $55.50 and a 200 day moving average of $46.71. The firm’s market cap is $5.60 billion.
Energen Corp. (NYSE:EGN) last issued its earnings results on Monday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.09. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The company had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was down 37.1% compared to the same quarter last year. On average, analysts expect that Energen Corp. will post ($1.38) earnings per share for the current year.
A number of analysts recently commented on EGN shares. Deutsche Bank AG lifted their price objective on Energen Corp. from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Tuesday, June 14th. Stifel Nicolaus started coverage on Energen Corp. in a research report on Thursday, June 16th. They set a “buy” rating and a $55.00 price objective for the company. Barclays PLC started coverage on Energen Corp. in a research report on Tuesday, June 21st. They set an “equal weight” rating and a $50.00 price objective for the company. Wunderlich lifted their price objective on Energen Corp. from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, June 21st. Finally, Royal Bank Of Canada lifted their price objective on Energen Corp. from $43.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 21st. Twelve investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Energen Corp. presently has an average rating of “Buy” and a consensus price target of $55.63.
In other news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $52.58, for a total transaction of $537,157.28. Following the transaction, the chairman now owns 103,789 shares of the company’s stock, valued at approximately $5,457,225.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.02% of the company’s stock.
About Energen Corp.
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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