Virginia Retirement Systems ET AL acquired a new position in Energen Corp. (NYSE:EGN) during the second quarter, Holdings Channel reports. The institutional investor acquired 23,100 shares of the company’s stock, valued at approximately $1,114,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Energen Corp. by 23.0% in the first quarter. JPMorgan Chase & Co. now owns 10,866,300 shares of the company’s stock worth $397,597,000 after buying an additional 2,034,422 shares during the period. Vanguard Group Inc. increased its position in shares of Energen Corp. 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 period. BlackRock Fund Advisors increased its position in shares of Energen Corp. by 21.3% in the first quarter. BlackRock Fund Advisors now owns 3,362,166 shares of the company’s stock worth $123,022,000 after buying an additional 589,613 shares during the period. State Street Corp increased its position in shares of Energen Corp. by 6.5% in the first quarter. State Street Corp now owns 3,247,954 shares of the company’s stock worth $118,838,000 after buying an additional 197,696 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Energen Corp. by 18.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,772,451 shares of the company’s stock worth $101,444,000 after buying an additional 423,441 shares during the period. Institutional investors and hedge funds own 93.37% of the company’s stock.
Shares of Energen Corp. (NYSE:EGN) opened at 57.72 on Friday. The stock has a 50 day moving average of $55.50 and a 200-day moving average of $46.71. The firm’s market capitalization is $5.60 billion. Energen Corp. has a one year low of $20.76 and a one year high of $61.98.
Energen Corp. (NYSE:EGN) last announced its earnings results on Monday, August 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.09. Energen Corp. had a negative net margin of 136.37% and a negative return on equity of 1.04%. The company earned $105.80 million during the quarter, compared to analysts’ expectations of $144.31 million. During the same period last year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was down 37.1% on a year-over-year basis. On average, equities analysts anticipate that Energen Corp. will post ($1.38) earnings per share for the current fiscal year.
EGN has been the subject of a number of analyst reports. Wunderlich upped their price objective on shares of Energen Corp. from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, June 21st. Zacks Investment Research upgraded shares of Energen Corp. from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Wednesday, July 6th. TheStreet upgraded shares of Energen Corp. from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. BMO Capital Markets restated a “hold” rating and set a $60.00 price target on shares of Energen Corp. in a research report on Wednesday, June 22nd. Finally, Royal Bank Of Canada upped their price target on shares of Energen Corp. from $43.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 21st. Twelve equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.63.
In other Energen Corp. news, Chairman J T. Mcmanus sold 10,216 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $52.58, for a total value of $537,157.28. Following the completion of the transaction, the chairman now directly owns 103,789 shares in the company, valued at $5,457,225.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.02% of the stock is currently owned by company insiders.
Energen Corp. Company Profile
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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