Traders Sell 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 companies 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
A number of brokerages have recently commented on EGN. Barclays PLC increased their price target on shares of Energen Corp. from $52.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wunderlich increased their target price on shares of Energen Corp. from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Royal Bank Of Canada increased their target price on shares of Energen Corp. from $50.00 to $54.00 and gave the company a “sector perform” rating in a report on Wednesday, August 10th. Deutsche Bank AG increased their target price 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. Finally, Zacks Investment Research lowered shares of Energen Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $54.68.
The firm’s 50 day moving average price is $49.39 and its 200-day moving average price is $41.02. The stock’s market capitalization is $5.42 billion.
Energen Corp. (NYSE:EGN) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.09. The company earned $105.80 million during the quarter, compared to the consensus estimate of $144.31 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was down 37.1% on a year-over-year basis. Equities research analysts predict that Energen Corp. will post ($1.39) earnings per share for the current year.
In other news, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $52.58, for a total value of $537,157.28. Following the transaction, the chairman now directly owns 103,789 shares in the company, valued at $5,457,225.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO J T. Mcmanus sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $48.05, for a total transaction of $720,750.00. Following the completion of the transaction, the chief executive officer now owns 103,789 shares in the company, valued at $4,987,061.45. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of EGN. Wells Fargo & Company MN boosted its position in 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 during the last quarter. RS Investment Management Co. LLC bought a new position in Energen Corp. during the fourth quarter worth approximately $4,890,000. Finally, BlackRock Advisors LLC boosted its position in 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 during 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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