87,980 Shares in Energen Corporation (EGN) Acquired by Brandywine Global Investment Management LLC
Brandywine Global Investment Management LLC acquired a new stake in Energen Corporation (NYSE:EGN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 87,980 shares of the oil and gas producer’s stock, valued at approximately $4,344,000. Brandywine Global Investment Management LLC owned 0.09% of Energen Corporation as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Morgan Stanley increased its stake in Energen Corporation by 11.7% in the 1st quarter. Morgan Stanley now owns 226,536 shares of the oil and gas producer’s stock valued at $12,333,000 after buying an additional 23,656 shares during the period. Janus Capital Management LLC increased its stake in Energen Corporation by 60.5% in the 1st quarter. Janus Capital Management LLC now owns 56,000 shares of the oil and gas producer’s stock valued at $3,049,000 after buying an additional 21,100 shares during the period. Chicago Equity Partners LLC increased its stake in Energen Corporation by 170.6% in the 2nd quarter. Chicago Equity Partners LLC now owns 88,670 shares of the oil and gas producer’s stock valued at $4,378,000 after buying an additional 55,905 shares during the period. First Trust Advisors LP acquired a new position in Energen Corporation in the 2nd quarter valued at $4,944,000. Finally, William Blair Investment Management LLC acquired a new position in Energen Corporation in the 2nd quarter valued at $1,146,000. 94.01% of the stock is currently owned by institutional investors.
Shares of Energen Corporation (NYSE:EGN) opened at 53.59 on Friday. The company has a 50-day moving average of $52.07 and a 200-day moving average of $52.23. Energen Corporation has a 52 week low of $46.16 and a 52 week high of $64.44. The firm has a market capitalization of $5.21 billion, a PE ratio of 84.79 and a beta of 1.95.
Energen Corporation (NYSE:EGN) last released its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $256.82 million for the quarter, compared to analyst estimates of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. Energen Corporation’s revenue was up 142.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.28) earnings per share. On average, equities analysts forecast that Energen Corporation will post $0.40 earnings per share for the current fiscal year.
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Several equities analysts have issued reports on the stock. Seaport Global Securities cut shares of Energen Corporation from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $61.00 to $38.00 in a research note on Wednesday, June 21st. Wunderlich reissued a “buy” rating and issued a $83.00 price objective on shares of Energen Corporation in a research note on Wednesday, June 21st. Scotiabank reaffirmed a “buy” rating and set a $56.00 price target on shares of Energen Corporation in a research note on Friday, June 30th. J P Morgan Chase & Co cut shares of Energen Corporation from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $60.00 to $53.00 in a research note on Thursday, July 20th. Finally, Barclays PLC set a $57.00 price target on shares of Energen Corporation and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.91.
Energen Corporation 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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