IBM Retirement Fund Has $538,000 Position in Energen Corporation (EGN)
IBM Retirement Fund reduced its position in shares of Energen Corporation (NYSE:EGN) by 4.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,322 shares of the company’s stock after selling 473 shares during the period. IBM Retirement Fund’s holdings in Energen Corporation were worth $538,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in EGN. Advisory Research Inc. purchased a new position in Energen Corporation during the second quarter worth about $20,125,000. Vanguard Group Inc. boosted its position in Energen Corporation by 4.3% in the second quarter. Vanguard Group Inc. now owns 7,517,189 shares of the company’s stock worth $362,405,000 after buying an additional 310,178 shares during the last quarter. Nationwide Fund Advisors boosted its position in Energen Corporation by 92.0% in the third quarter. Nationwide Fund Advisors now owns 389,659 shares of the company’s stock worth $22,491,000 after buying an additional 186,730 shares during the last quarter. Schroder Investment Management Group purchased a new position in Energen Corporation during the second quarter worth about $8,580,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in Energen Corporation by 33.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 695,790 shares of the company’s stock worth $33,544,000 after buying an additional 175,000 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.
Shares of Energen Corporation (NYSE:EGN) traded down 2.52% on Friday, reaching $54.12. 1,249,754 shares of the company were exchanged. The stock’s market capitalization is $5.25 billion. Energen Corporation has a 52 week low of $20.76 and a 52 week high of $64.44. The firm’s 50 day moving average price is $58.66 and its 200 day moving average price is $54.60.
Energen Corporation (NYSE:EGN) last posted its earnings results on Thursday, November 3rd. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.04. The business had revenue of $184.39 million for the quarter, compared to the consensus estimate of $159.82 million. Energen Corporation had a negative net margin of 115.17% and a negative return on equity of 2.70%. The company’s revenue for the quarter was down 37.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Equities research analysts anticipate that Energen Corporation will post ($1.33) EPS for the current year.
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A number of equities analysts have issued reports on EGN shares. Tudor Pickering upgraded shares of Energen Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. Credit Suisse Group boosted their price target on shares of Energen Corporation from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, November 22nd. Nomura boosted their price target on shares of Energen Corporation from $54.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, October 13th. Stifel Nicolaus boosted their price target on shares of Energen Corporation from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, October 18th. Finally, Mizuho assumed coverage on shares of Energen Corporation in a research report on Wednesday, October 5th. They set a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Energen Corporation has a consensus rating of “Buy” and a consensus target price of $61.79.
In other Energen Corporation news, Chairman J T. Mcmanus sold 11,781 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $56.34, for a total transaction of $663,741.54. Following the transaction, the chairman now owns 103,789 shares of the company’s stock, valued at approximately $5,847,472.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.
About Energen Corporation
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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