Janney Montgomery Scott LLC Purchases New Stake in Energen Corporation (EGN)
Janney Montgomery Scott LLC purchased a new stake in shares of Energen Corporation (NYSE:EGN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,577 shares of the oil and gas producer’s stock, valued at approximately $423,000.
A number of other hedge funds also recently added to or reduced their stakes in EGN. Flinton Capital Management LLC raised its stake in Energen Corporation by 10.8% in the first quarter. Flinton Capital Management LLC now owns 2,944 shares of the oil and gas producer’s stock valued at $160,000 after buying an additional 288 shares during the last quarter. Creative Planning raised its stake in Energen Corporation by 8.0% in the second quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock valued at $167,000 after buying an additional 250 shares during the last quarter. Greenwood Capital Associates LLC bought a new stake in Energen Corporation during the first quarter valued at $200,000. Investment Counselors of Maryland LLC raised its stake in Energen Corporation by 22.6% in the first quarter. Investment Counselors of Maryland LLC now owns 3,711 shares of the oil and gas producer’s stock valued at $202,000 after buying an additional 685 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Energen Corporation by 26.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,819 shares of the oil and gas producer’s stock valued at $208,000 after buying an additional 806 shares during the last quarter. Institutional investors own 97.71% of the company’s stock.
Energen Corporation (NYSE:EGN) opened at 50.26 on Monday. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.43. The stock’s 50 day moving average price is $50.04 and its 200-day moving average price is $52.50. The company has a market cap of $4.89 billion, a P/E ratio of 79.53 and a beta of 1.93.
Energen Corporation (NYSE:EGN) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $256.82 million for the quarter, compared to the consensus estimate of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. The company’s quarterly revenue was up 142.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.28) EPS. On average, equities analysts predict that Energen Corporation will post $0.42 earnings per share for the current fiscal year.
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EGN has been the topic of several recent research reports. Stifel Nicolaus restated a “buy” rating and set a $81.00 price target on shares of Energen Corporation in a report on Friday, May 26th. Scotiabank restated a “buy” rating and set a $64.00 price target on shares of Energen Corporation in a report on Friday, May 5th. Williams Capital restated a “buy” rating and set a $72.00 price target on shares of Energen Corporation in a report on Friday, May 5th. Wunderlich restated a “buy” rating and set a $83.00 price target on shares of Energen Corporation in a report on Wednesday, June 21st. Finally, TheStreet upgraded Energen Corporation from a “d+” rating to a “c-” rating in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $66.23.
In other news, Director Alan A. Kleier acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were purchased at an average price of $47.59 per share, for a total transaction of $47,590.00. Following the acquisition, the director now owns 1,500 shares of the company’s stock, valued at $71,385. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.
About Energen Corporation
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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