Investors Sell Shares of Energen Corp. (EGN) on Strength (EGN)
Investors sold shares of Energen Corp. (NYSE:EGN) on strength during trading hours on Thursday. $26.18 million flowed into the stock on the tick-up and $41.39 million flowed out of the stock on the tick-down, for a money net flow of $15.21 million out of the stock. Of all equities tracked, Energen Corp. had the 0th highest net out-flow for the day. Energen Corp. traded up $1.54 for the day and closed at $56.75
Several equities analysts have recently issued reports on the stock. Barclays PLC boosted their price target on shares of Energen Corp. from $52.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday. Citigroup Inc. boosted their price target on shares of Energen Corp. from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. RBC Capital Markets reissued a “sector perform” rating and issued a $54.00 price target (up previously from $50.00) on shares of Energen Corp. in a report on Thursday, August 11th. Zacks Investment Research lowered shares of Energen Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Deutsche Bank AG boosted their price target on shares of Energen Corp. from $50.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $54.68.
The firm’s market cap is $5.51 billion. The stock has a 50-day moving average price of $49.18 and a 200 day moving average price of $40.85.
Energen Corp. (NYSE:EGN) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. During the same quarter in the prior year, the business earned $0.10 earnings per share. The business had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. The firm’s quarterly revenue was down 37.1% compared to the same quarter last year. Equities research analysts expect that Energen Corp. will post ($1.40) earnings per share for the current year.
In other Energen Corp. news, Director Magnus James Gorrie acquired 1,000 shares of Energen Corp. stock in a transaction dated Friday, June 24th. The stock was purchased at an average cost of $47.26 per share, for a total transaction of $47,260.00. Following the completion of the acquisition, the director now directly owns 7,900 shares of the company’s stock, valued at $373,354. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO J T. Mcmanus sold 15,000 shares of Energen Corp. stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $48.05, for a total transaction of $720,750.00. Following the transaction, the chief executive officer now owns 103,789 shares of the company’s stock, valued at $4,987,061.45. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of EGN. RS Investment Management Co. LLC acquired a new position in shares of Energen Corp. during the fourth quarter worth about $4,890,000. Wells Fargo & Company MN boosted its position in shares of Energen Corp. by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 311,066 shares of the company’s stock worth $12,750,000 after buying an additional 7,222 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its position in shares of Energen Corp. by 47.2% in the fourth quarter. BlackRock Advisors LLC now owns 578,373 shares of the company’s stock worth $23,708,000 after buying an additional 185,471 shares in the last quarter.
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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