Prudential Financial Inc. Boosts Position in Energen Corp. (EGN)
Prudential Financial Inc. boosted its position in shares of Energen Corp. (NYSE:EGN) by 108.1% during the second quarter, Holdings Channel reports. The institutional investor owned 131,526 shares of the company’s stock after buying an additional 68,327 shares during the period. Prudential Financial Inc. owned 0.14% of Energen Corp. worth $6,340,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC purchased a new stake in Energen Corp. during the second quarter worth about $103,000. Creative Planning boosted its stake in Energen Corp. by 875.0% in the second quarter. Creative Planning now owns 3,315 shares of the company’s stock worth $160,000 after buying an additional 2,975 shares in the last quarter. Fruth Investment Management purchased a new stake in Energen Corp. during the second quarter worth about $212,000. Leavell Investment Management Inc. purchased a new stake in Energen Corp. during the second quarter worth about $228,000. Finally, Neuberger Berman Group LLC purchased a new stake in Energen Corp. during the second quarter worth about $230,000. Institutional investors and hedge funds own 93.37% of the company’s stock.
Energen Corp. (NYSE:EGN) opened at 59.26 on Tuesday. The firm’s market capitalization is $5.75 billion. Energen Corp. has a 52-week low of $20.76 and a 52-week high of $61.98. The stock’s 50 day moving average price is $56.05 and its 200 day moving average price is $47.94.
Energen Corp. (NYSE:EGN) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $144.31 million. During the same quarter last year, the business posted $0.10 EPS. Energen Corp.’s revenue for the quarter was down 37.1% on a year-over-year basis. On average, analysts predict that Energen Corp. will post ($1.37) EPS for the current fiscal year.
A number of research firms have recently issued reports on EGN. Stifel Nicolaus boosted their price objective on Energen Corp. from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $54.00 price target (up previously from $50.00) on shares of Energen Corp. in a research note on Thursday, August 11th. Deutsche Bank AG boosted their price target on Energen Corp. from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Tuesday, June 14th. Royal Bank Of Canada boosted their price target on Energen Corp. from $50.00 to $54.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 10th. Finally, Barclays PLC began coverage on Energen Corp. in a research note on Tuesday, June 21st. They issued an “equal weight” rating and a $50.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $56.39.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of Energen Corp. 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 directly owns 103,789 shares of the company’s stock, valued at approximately $5,457,225.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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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