Fondren Management LP decreased its holdings in Energen Co. (NYSE:EGN) by 40.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the oil and gas producer’s stock after selling 20,000 shares during the period. Energen accounts for approximately 1.2% of Fondren Management LP’s holdings, making the stock its 17th biggest holding. Fondren Management LP’s holdings in Energen were worth $1,727,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. Highbridge Capital Management LLC purchased a new stake in Energen in the 3rd quarter worth about $15,830,000. SIR Capital Management L.P. purchased a new stake in Energen in the 4th quarter worth about $14,309,000. Systematic Financial Management LP raised its position in Energen by 19.5% in the 3rd quarter. Systematic Financial Management LP now owns 1,314,711 shares of the oil and gas producer’s stock worth $71,888,000 after purchasing an additional 214,802 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Energen by 473.3% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 245,961 shares of the oil and gas producer’s stock worth $14,160,000 after purchasing an additional 203,061 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in Energen by 86.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 396,708 shares of the oil and gas producer’s stock worth $21,692,000 after purchasing an additional 184,416 shares during the period. 93.59% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Morgan Stanley raised shares of Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 24th. KeyCorp set a $70.00 target price on shares of Energen and gave the stock a “buy” rating in a research report on Sunday, January 21st. Mizuho set a $72.00 target price on shares of Energen and gave the stock a “buy” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. set a $62.00 target price on shares of Energen and gave the stock a “sell” rating in a research report on Monday, March 5th. Finally, Wells Fargo & Co began coverage on shares of Energen in a research report on Friday, December 1st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.48.
Energen Co. (NYSE EGN) opened at $57.95 on Wednesday. The stock has a market cap of $5,654.34, a P/E ratio of 18.51 and a beta of 1.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.55 and a current ratio of 0.59. Energen Co. has a 1-year low of $46.16 and a 1-year high of $60.07.
Energen (NYSE:EGN) last issued its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.22. The company had revenue of $271.80 million for the quarter, compared to analyst estimates of $303.95 million. Energen had a net margin of 30.12% and a return on equity of 2.27%. Energen’s revenue was up 137.3% compared to the same quarter last year. During the same period last year, the company posted ($0.27) earnings per share. equities analysts predict that Energen Co. will post 3.14 EPS for the current year.
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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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