Municipal Employees Retirement System of Michigan decreased its position in shares of Energen Corporation (NYSE:EGN) by 21.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,400 shares of the oil and gas producer’s stock after selling 8,070 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Energen Corporation were worth $1,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning lifted 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 worth $167,000 after acquiring an additional 250 shares during the period. Ironwood Investment Counsel LLC purchased a new stake in shares of Energen Corporation during the third quarter valued at about $219,000. Optimum Investment Advisors purchased a new stake in shares of Energen Corporation during the second quarter valued at about $228,000. Oppenheimer Asset Management Inc. lifted its position in shares of Energen Corporation by 12.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,773 shares of the oil and gas producer’s stock valued at $236,000 after buying an additional 527 shares during the last quarter. Finally, Capital Insight Partners LLC purchased a new stake in shares of Energen Corporation during the second quarter valued at about $237,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Several equities analysts recently commented on the stock. J P Morgan Chase & Co lowered shares of Energen Corporation from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $60.00 to $53.00 in a research report on Thursday, July 20th. Barclays PLC set a $57.00 price target on shares of Energen Corporation and gave the stock a “hold” rating in a report on Tuesday, August 15th. Citigroup Inc. cut their price target on shares of Energen Corporation from $58.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, August 15th. Zacks Investment Research downgraded shares of Energen Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, ValuEngine upgraded shares of Energen Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $65.48.

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In other news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $57.01, for a total transaction of $142,525.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Energen Corporation (NYSE EGN) opened at $53.79 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.24. Energen Corporation has a 52-week low of $46.16 and a 52-week high of $64.44.

Energen Corporation (NYSE:EGN) last released its earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. The company had revenue of $191.50 million during the quarter, compared to the consensus estimate of $242.81 million. Energen Corporation had a negative return on equity of 0.45% and a negative net margin of 1.17%. Energen Corporation’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) EPS. analysts predict that Energen Corporation will post 0.41 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for Energen Corporation (NYSE:EGN)

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