J T. Mcmanus Sells 11,781 Shares of Energen Corp. (EGN) Stock
Energen Corp. (NYSE:EGN) Chairman J T. Mcmanus sold 11,781 shares of Energen Corp. stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $56.34, for a total value of $663,741.54. Following the completion of the transaction, the chairman now owns 103,789 shares in the company, valued at approximately $5,847,472.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Energen Corp. (NYSE:EGN) opened at 54.75 on Monday. Energen Corp. has a 1-year low of $20.76 and a 1-year high of $61.98. The stock’s 50 day moving average price is $55.02 and its 200 day moving average price is $50.51. The company’s market cap is $5.31 billion.
Energen Corp. (NYSE:EGN) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.04. Energen Corp. had a negative return on equity of 2.70% and a negative net margin of 115.17%. The company had revenue of $184.39 million for the quarter, compared to analyst estimates of $159.82 million. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s revenue was down 37.6% on a year-over-year basis. On average, equities analysts anticipate that Energen Corp. will post ($1.35) earnings per share for the current fiscal year.
Several research firms have recently weighed in on EGN. Zacks Investment Research cut Energen Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Citigroup Inc. boosted their price target on Energen Corp. from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. RBC Capital Markets restated a “sector perform” rating and set a $54.00 price target (up from $50.00) on shares of Energen Corp. in a report on Thursday, August 11th. Royal Bank Of Canada boosted their price target on Energen Corp. from $50.00 to $54.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 10th. Finally, Williams Capital began coverage on Energen Corp. in a report on Monday, August 29th. They set a “buy” rating and a $68.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Energen Corp. has an average rating of “Buy” and a consensus target price of $58.21.
A number of hedge funds and other institutional investors have recently made changes to their positions in EGN. ClariVest Asset Management LLC bought a new position in shares of Energen Corp. during the second quarter worth about $103,000. DekaBank Deutsche Girozentrale bought a new position in shares of Energen Corp. during the third quarter worth about $115,000. Creative Planning boosted its position in shares of Energen Corp. by 875.0% in the second quarter. Creative Planning now owns 3,315 shares of the company’s stock worth $160,000 after buying an additional 2,975 shares during the last quarter. Investment Counselors of Maryland LLC bought a new position in shares of Energen Corp. during the third quarter worth about $175,000. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Energen Corp. during the second quarter worth about $202,000. Institutional investors and hedge funds own 93.31% 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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