Welch Group LLC lowered its stake in shares of Energen Corp. (NYSE:EGN) by 16.7% during the second quarter, Holdings Channel reports. The firm owned 35,774 shares of the company’s stock after selling 7,190 shares during the period. Welch Group LLC’s holdings in Energen Corp. were worth $1,725,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in EGN. JPMorgan Chase & Co. boosted its stake in Energen Corp. by 23.0% in the first quarter. JPMorgan Chase & Co. now owns 10,866,300 shares of the company’s stock valued at $397,597,000 after buying an additional 2,034,422 shares during the period. BlackRock Fund Advisors boosted its stake in Energen Corp. by 21.3% in the first quarter. BlackRock Fund Advisors now owns 3,362,166 shares of the company’s stock valued at $123,022,000 after buying an additional 589,613 shares during the period. State Street Corp boosted its stake in Energen Corp. by 6.5% in the first quarter. State Street Corp now owns 3,247,954 shares of the company’s stock valued at $118,838,000 after buying an additional 197,696 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in 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 valued at $101,444,000 after buying an additional 423,441 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Energen Corp. by 32.8% in the first quarter. Franklin Resources Inc. now owns 931,207 shares of the company’s stock valued at $34,073,000 after buying an additional 230,207 shares during the period. 93.37% of the stock is currently owned by institutional investors.
Energen Corp. (NYSE:EGN) traded up 1.13% during trading on Monday, reaching $58.37. The company had a trading volume of 1,060,719 shares. The firm’s market capitalization is $5.67 billion. The company’s 50-day moving average is $55.50 and its 200 day moving average is $46.71. Energen Corp. has a 52 week low of $20.76 and a 52 week 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, beating analysts’ consensus estimates of ($0.37) by $0.09. Energen Corp. had a negative return on equity of 1.04% and a negative net margin of 136.37%. The business earned $105.80 million during the quarter, compared to analysts’ expectations of $144.31 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s revenue was down 37.1% compared to the same quarter last year. Equities analysts anticipate that Energen Corp. will post ($1.38) EPS for the current year.
EGN has been the topic of several research reports. Wunderlich raised their target price on 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 raised Energen Corp. from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Wednesday, July 6th. TheStreet raised Energen Corp. from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. BMO Capital Markets reissued a “hold” rating and issued a $60.00 target price on shares of Energen Corp. in a research report on Wednesday, June 22nd. Finally, Royal Bank Of Canada raised their target price on 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 research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $55.63.
In related news, Chairman J T. Mcmanus sold 10,216 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $52.58, for a total value of $537,157.28. Following the completion of the sale, the chairman now owns 103,789 shares of the company’s stock, valued at $5,457,225.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.02% of the company’s stock.
About Energen Corp.
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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