Traders Purchase Large Volume of Energen Put Options (EGN)

Energen Co. (NYSE:EGN) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 618 put options on the stock. This represents an increase of approximately 1,004% compared to the typical daily volume of 56 put options.

EGN has been the topic of several analyst reports. Scotiabank reiterated a “buy” rating and issued a $63.00 target price on shares of Energen in a research note on Wednesday, November 22nd. Jefferies Group initiated coverage on shares of Energen in a report on Monday, October 9th. They set a “buy” rating and a $68.00 price objective for the company. Stifel Nicolaus set a $80.00 price objective on shares of Energen and gave the company a “buy” rating in a report on Thursday, October 5th. SunTrust Banks reissued a “buy” rating and set a $70.00 price objective on shares of Energen in a report on Monday, October 2nd. Finally, Mizuho reissued a “buy” rating and set a $69.00 price objective on shares of Energen in a report on Friday, September 29th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Energen has an average rating of “Hold” and an average target price of $64.95.

In other news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $57.01, for a total value of $142,525.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Corvex Management Lp sold 80,294 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $57.56, for a total transaction of $4,621,722.64. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC increased its holdings in Energen by 2.3% during the second quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock valued at $264,000 after buying an additional 119 shares during the last quarter. Suntrust Banks Inc. increased its holdings in Energen by 1.5% during the second quarter. Suntrust Banks Inc. now owns 26,481 shares of the oil and gas producer’s stock valued at $1,306,000 after buying an additional 393 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Energen by 1.0% during the second quarter. Ameritas Investment Partners Inc. now owns 44,447 shares of the oil and gas producer’s stock valued at $2,194,000 after buying an additional 433 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Energen by 12.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,773 shares of the oil and gas producer’s stock valued at $236,000 after buying an additional 527 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in Energen by 6.3% during the second quarter. M&T Bank Corp now owns 8,878 shares of the oil and gas producer’s stock valued at $438,000 after buying an additional 530 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Shares of Energen (NYSE EGN) opened at $57.41 on Friday. Energen has a twelve month low of $46.16 and a twelve month high of $60.07. The company has a market cap of $5,580.00, a P/E ratio of -521.91, a price-to-earnings-growth ratio of 0.95 and a beta of 1.90. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.24.

Energen (NYSE:EGN) last announced its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.05. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. The business had revenue of $191.50 million during the quarter, compared to analysts’ expectations of $242.81 million. During the same period in the prior year, the company earned ($0.22) earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. equities research analysts predict that Energen will post 0.5 EPS for the current year.

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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.

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