Investors Sell Energen (EGN) on Strength (EGN)

Traders sold shares of Energen Co. (NYSE:EGN) on strength during trading on Friday. $8.80 million flowed into the stock on the tick-up and $16.99 million flowed out of the stock on the tick-down, for a money net flow of $8.19 million out of the stock. Of all stocks tracked, Energen had the 0th highest net out-flow for the day. Energen traded up $0.71 for the day and closed at $57.61

Several analysts have recently issued reports on EGN shares. Williams Capital set a $74.00 target price on Energen and gave the stock a “buy” rating in a report on Tuesday, February 20th. Deutsche Bank started coverage on Energen in a report on Thursday, February 1st. They set a “buy” rating and a $70.00 target price on the stock. Stifel Nicolaus set a $85.00 target price on Energen and gave the stock a “buy” rating in a report on Monday, January 29th. Seaport Global Securities raised Energen from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Finally, KeyCorp set a $70.00 target price on Energen and gave the stock a “buy” rating in a report on Sunday, January 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $67.36.

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The firm has a market cap of $5,611.50, a P/E ratio of 18.41 and a beta of 1.61. The company has a current ratio of 0.59, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23.

Energen (NYSE:EGN) last released its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.22. The business had revenue of $271.80 million for the quarter, compared to analyst estimates of $303.95 million. Energen had a return on equity of 2.27% and a net margin of 30.12%. Energen’s revenue was up 137.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.27) earnings per share. research analysts expect that Energen Co. will post 3.17 EPS for the current fiscal year.

In other news, Director Jonathan Z. Cohen bought 17,500 shares of the company’s stock in a transaction on Friday, March 9th. The stock was purchased at an average cost of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the transaction, the director now owns 17,500 shares of the company’s stock, valued at $1,003,800. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Godsey sold 6,000 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $57.77, for a total value of $346,620.00. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of EGN. Millennium Management LLC raised its position in Energen by 86.2% in the fourth quarter. Millennium Management LLC now owns 2,928,514 shares of the oil and gas producer’s stock valued at $168,595,000 after purchasing an additional 1,355,480 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Energen in the third quarter valued at about $15,830,000. SIR Capital Management L.P. bought a new position in Energen in the fourth quarter valued at about $14,309,000. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Energen by 473.3% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 245,961 shares of the oil and gas producer’s stock valued at $14,160,000 after purchasing an additional 203,061 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its position in Energen by 86.9% in the third quarter. Alyeska Investment Group L.P. now owns 396,708 shares of the oil and gas producer’s stock valued at $21,692,000 after purchasing an additional 184,416 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

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Energen Company 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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