Energen Co. (EGN) Short Interest Update

Energen Co. (NYSE:EGN) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 3,636,441 shares, an increase of 56.5% from the January 12th total of 2,323,366 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,026,535 shares, the short-interest ratio is presently 3.5 days.

Several research firms have commented on EGN. Morgan Stanley decreased their target price on shares of Energen from $75.00 to $73.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. Zacks Investment Research upgraded shares of Energen from a “hold” rating to a “strong-buy” rating and set a $60.00 target price for the company in a research report on Thursday, February 1st. ValuEngine cut shares of Energen from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Deutsche Bank began coverage on shares of Energen in a research report on Thursday, February 1st. They issued a “buy” rating and a $70.00 target price for the company. Finally, Stifel Nicolaus set a $85.00 target price on shares of Energen and gave the stock a “buy” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $66.29.

In related news, major shareholder Corvex Management Lp sold 80,294 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $57.56, for a total transaction of $4,621,722.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lori A. Lancaster acquired 1,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were acquired at an average cost of $57.79 per share, with a total value of $57,790.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $57,790. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. HighTower Advisors LLC lifted its stake in shares of Energen by 2.3% in the 2nd quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock worth $264,000 after acquiring an additional 119 shares during the period. California State Teachers Retirement System lifted its stake in Energen by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 163,242 shares of the oil and gas producer’s stock valued at $9,398,000 after purchasing an additional 952 shares during the last quarter. Flinton Capital Management LLC lifted its stake in Energen by 18.0% during the fourth quarter. Flinton Capital Management LLC now owns 6,384 shares of the oil and gas producer’s stock valued at $368,000 after purchasing an additional 976 shares during the last quarter. Baldwin Investment Management LLC lifted its stake in Energen by 11.1% during the fourth quarter. Baldwin Investment Management LLC now owns 10,513 shares of the oil and gas producer’s stock valued at $605,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Energen by 6.1% during the fourth quarter. Amalgamated Bank now owns 18,862 shares of the oil and gas producer’s stock valued at $1,086,000 after purchasing an additional 1,090 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Shares of Energen (NYSE EGN) opened at $52.93 on Thursday. The firm has a market cap of $4,988.40, a P/E ratio of -481.18 and a beta of 1.73. Energen has a one year low of $46.16 and a one year high of $60.07. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24.

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About Energen

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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