Retirement Systems of Alabama Has $14,184,000 Position in Energen Corp. (EGN)
Retirement Systems of Alabama increased its position in shares of Energen Corp. (NYSE:EGN) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 294,215 shares of the company’s stock after buying an additional 17,069 shares during the period. Retirement Systems of Alabama owned approximately 0.30% of Energen Corp. worth $14,184,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in EGN. Prudential Financial Inc. raised its stake in shares of Energen Corp. by 31.4% in the first quarter. Prudential Financial Inc. now owns 63,199 shares of the company’s stock worth $2,312,000 after buying an additional 15,110 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Energen Corp. by 3,371.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 520,790 shares of the company’s stock worth $19,056,000 after buying an additional 505,790 shares during the last quarter. Bogle Investment Management L P DE acquired a new stake in shares of Energen Corp. during the first quarter worth approximately $1,484,000. HBK Investments L P raised its stake in shares of Energen Corp. by 125.5% in the first quarter. HBK Investments L P now owns 100,289 shares of the company’s stock worth $3,670,000 after buying an additional 55,815 shares during the last quarter. Finally, Elliott Management Corp acquired a new stake in shares of Energen Corp. during the first quarter worth approximately $6,037,000. 93.37% of the stock is owned by hedge funds and other institutional investors.
Energen Corp. (NYSE:EGN) traded up 1.91% on Friday, hitting $57.72. The stock had a trading volume of 760,255 shares. The stock’s market cap is $5.60 billion. The company’s 50 day moving average is $55.50 and its 200-day moving average is $46.71. Energen Corp. has a 12 month low of $20.76 and a 12 month high of $61.98.
Energen Corp. (NYSE:EGN) last announced its earnings results on Monday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $105.80 million for the quarter, compared to analyst estimates of $144.31 million. During the same period in the prior year, the company posted $0.10 EPS. The firm’s quarterly revenue was down 37.1% compared to the same quarter last year. Analysts forecast that Energen Corp. will post ($1.38) EPS for the current year.
EGN has been the subject of a number of research analyst reports. Wunderlich raised their price target on Energen Corp. from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, June 21st. Zacks Investment Research raised Energen Corp. from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Wednesday, July 6th. TheStreet raised Energen Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. BMO Capital Markets reaffirmed a “hold” rating and issued a $60.00 price target on shares of Energen Corp. in a research note on Wednesday, June 22nd. Finally, Royal Bank Of Canada increased their price objective on Energen Corp. from $43.00 to $48.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 21st. Twelve investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $55.63.
In related news, Chairman J T. Mcmanus sold 10,216 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $52.58, for a total transaction of $537,157.28. Following the transaction, the chairman now directly owns 103,789 shares of the company’s stock, valued at approximately $5,457,225.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.02% of the company’s stock.
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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