Alliancebernstein L.P. decreased its holdings in Energen Corporation (NYSE:EGN) by 3.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,010 shares of the oil and gas producer’s stock after selling 1,775 shares during the period. Alliancebernstein L.P. owned approximately 0.06% of Energen Corporation worth $2,765,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its stake in shares of Energen Corporation by 26.0% in the 2nd quarter. Franklin Resources Inc. now owns 1,240,582 shares of the oil and gas producer’s stock valued at $61,248,000 after purchasing an additional 255,875 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Energen Corporation in the 2nd quarter valued at $849,000. Synovus Financial Corp boosted its stake in shares of Energen Corporation by 0.8% in the 2nd quarter. Synovus Financial Corp now owns 52,267 shares of the oil and gas producer’s stock valued at $2,581,000 after purchasing an additional 408 shares in the last quarter. Mitchell Group Inc. boosted its stake in shares of Energen Corporation by 1.5% in the 2nd quarter. Mitchell Group Inc. now owns 422,890 shares of the oil and gas producer’s stock valued at $20,878,000 after purchasing an additional 6,410 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Energen Corporation by 12.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,773 shares of the oil and gas producer’s stock valued at $236,000 after purchasing an additional 527 shares in the last quarter. 94.01% of the stock is owned by institutional investors.
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A number of equities research analysts have recently issued reports on the stock. Barclays PLC upped their price objective on shares of Energen Corporation from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday. Seaport Global Securities cut shares of Energen Corporation from a “neutral” rating to a “sell” rating and cut their price objective for the company from $61.00 to $38.00 in a research note on Wednesday, June 21st. Wunderlich reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Energen Corporation in a research note on Wednesday, June 21st. Scotiabank reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Energen Corporation in a research note on Friday, June 30th. Finally, J P Morgan Chase & Co cut shares of Energen Corporation from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $60.00 to $53.00 in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $66.21.
Energen Corporation (EGN) opened at 53.14 on Thursday. The firm has a 50-day moving average of $52.42 and a 200 day moving average of $52.27. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 84.08 and a beta of 1.95. Energen Corporation has a one year low of $46.16 and a one year high of $64.43.
Energen Corporation (NYSE:EGN) last issued its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. The firm had revenue of $256.82 million during the quarter, compared to analyst estimates of $222.60 million. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The business’s revenue was up 142.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.28) earnings per share. Equities research analysts predict that Energen Corporation will post $0.41 earnings per share for the current fiscal year.
Energen Corporation 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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