Tokio Marine Asset Management Co. Ltd. Buys New Stake in Energen Co. (EGN)

Tokio Marine Asset Management Co. Ltd. bought a new stake in Energen Co. (NYSE:EGN) during the first quarter, Holdings Channel reports. The firm bought 8,300 shares of the oil and gas producer’s stock, valued at approximately $452,000.

A number of other institutional investors have also recently bought and sold shares of EGN. Victory Capital Management Inc. increased its stake in shares of Energen by 33.3% in the third quarter. Victory Capital Management Inc. now owns 2,308,249 shares of the oil and gas producer’s stock valued at $133,233,000 after buying an additional 576,299 shares during the period. Northern Trust Corp increased its stake in shares of Energen by 2.8% in the third quarter. Northern Trust Corp now owns 826,573 shares of the oil and gas producer’s stock valued at $47,711,000 after buying an additional 22,597 shares during the period. Norges Bank bought a new stake in shares of Energen during the fourth quarter valued at $41,885,000. Advisory Research Inc. increased its stake in shares of Energen by 14.0% in the fourth quarter. Advisory Research Inc. now owns 605,761 shares of the oil and gas producer’s stock valued at $34,934,000 after buying an additional 74,590 shares during the period. Finally, Samlyn Capital LLC increased its stake in shares of Energen by 3.6% in the third quarter. Samlyn Capital LLC now owns 548,400 shares of the oil and gas producer’s stock valued at $31,653,000 after buying an additional 18,926 shares during the period. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Energen (NYSE:EGN)

Shares of Energen Co. (NYSE:EGN) traded up 3.55% on Friday, hitting $58.56. The company’s stock had a trading volume of 1,730,304 shares. Energen Co. has a 52 week low of $42.88 and a 52 week high of $64.43. The stock has a market capitalization of $5.69 billion, a P/E ratio of 82.95 and a beta of 1.91. The stock’s 50 day moving average price is $53.47 and its 200 day moving average price is $54.92.

Energen (NYSE:EGN) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.01. Energen had a negative return on equity of 4.19% and a negative net margin of 31.43%. The company had revenue of $240.90 million during the quarter, compared to analyst estimates of $166.69 million. During the same period last year, the company posted ($0.64) earnings per share. The company’s revenue was up 87.9% compared to the same quarter last year. On average, analysts forecast that Energen Co. will post $0.61 earnings per share for the current fiscal year.

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Several brokerages have weighed in on EGN. TheStreet upgraded Energen from a “d+” rating to a “c-” rating in a report on Thursday, May 4th. Canaccord Genuity restated a “buy” rating and set a $72.00 price target on shares of Energen in a report on Thursday, February 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 price objective on shares of Energen in a report on Thursday, April 13th. Argus upgraded Energen from a “hold” rating to a “buy” rating in a report on Friday, February 24th. Finally, Zacks Investment Research downgraded Energen from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $67.89.

In other Energen news, insider John S. Richardson sold 6,500 shares of the stock in a transaction on Friday, March 17th. The shares were sold at an average price of $52.20, for a total transaction of $339,300.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Charles W. Porter sold 6,000 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $54.60, for a total transaction of $327,600.00. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Energen Company 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.

5 Day Chart for NYSE:EGN

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