Investors Sell Energen (EGN) on Strength (EGN)

Investors sold shares of Energen (NYSE:EGN) on strength during trading on Friday. $21.75 million flowed into the stock on the tick-up and $56.78 million flowed out of the stock on the tick-down, for a money net flow of $35.03 million out of the stock. Of all companies tracked, Energen had the 14th highest net out-flow for the day. Energen traded up $1.37 for the day and closed at $65.21

Several research firms have issued reports on EGN. Imperial Capital reaffirmed an “outperform” rating and set a $72.00 price target (up from $68.00) on shares of Energen in a research note on Wednesday, February 21st. Deutsche Bank initiated coverage on shares of Energen in a research report on Thursday, February 1st. They issued a “buy” rating and a $70.00 target price on the stock. Seaport Global Securities raised shares of Energen from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Stephens reissued a “buy” rating and issued a $74.00 target price on shares of Energen in a research report on Thursday, March 15th. Finally, Jefferies Group set a $80.00 target price on shares of Energen and gave the stock a “buy” rating in a research report on Monday, March 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. Energen currently has an average rating of “Hold” and an average price target of $68.32.

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The company has a current ratio of 0.59, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23. The firm has a market cap of $6,107.28, a P/E ratio of 85.12 and a beta of 1.41.

Energen (NYSE:EGN) last posted its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.22. Energen had a net margin of 30.12% and a return on equity of 2.27%. The firm had revenue of $271.80 million for the quarter, compared to analyst estimates of $303.95 million. During the same quarter last year, the firm posted ($0.27) earnings per share. Energen’s revenue for the quarter was up 137.3% compared to the same quarter last year. analysts forecast that Energen will post 3.32 earnings per share for the current fiscal year.

In other news, Director Jonathan Z. Cohen acquired 17,500 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were bought at an average price of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at approximately $1,003,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman J T. Mcmanus sold 3,116 shares of Energen stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $58.06, for a total transaction of $180,914.96. Following the sale, the chairman now owns 115,794 shares in the company, valued at approximately $6,722,999.64. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of EGN. New York State Common Retirement Fund raised its stake in shares of Energen by 2.6% during the third quarter. New York State Common Retirement Fund now owns 255,800 shares of the oil and gas producer’s stock valued at $13,987,000 after purchasing an additional 6,600 shares during the period. Legal & General Group Plc raised its stake in shares of Energen by 6.8% during the third quarter. Legal & General Group Plc now owns 123,271 shares of the oil and gas producer’s stock valued at $6,739,000 after purchasing an additional 7,858 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Energen by 2.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 446,267 shares of the oil and gas producer’s stock valued at $24,402,000 after purchasing an additional 11,302 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Energen by 5.1% during the third quarter. Dimensional Fund Advisors LP now owns 507,751 shares of the oil and gas producer’s stock valued at $27,763,000 after purchasing an additional 24,713 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Energen during the third quarter valued at approximately $209,000. Institutional investors own 93.58% of the company’s stock.

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Energen Company Profile

Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations 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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