Systematic Financial Management LP decreased its position in shares of Energen (NYSE:EGN) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,291,472 shares of the oil and gas producer’s stock after selling 52,541 shares during the quarter. Energen comprises approximately 1.8% of Systematic Financial Management LP’s investment portfolio, making the stock its biggest holding. Systematic Financial Management LP’s holdings in Energen were worth $81,182,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in Energen by 1.0% in the first quarter. Victory Capital Management Inc. now owns 3,070,801 shares of the oil and gas producer’s stock valued at $193,031,000 after buying an additional 31,379 shares in the last quarter. Millennium Management LLC lifted its stake in Energen by 86.2% in the fourth quarter. Millennium Management LLC now owns 2,928,514 shares of the oil and gas producer’s stock valued at $168,595,000 after buying an additional 1,355,480 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Energen by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,656,284 shares of the oil and gas producer’s stock valued at $104,114,000 after buying an additional 34,809 shares in the last quarter. Franklin Resources Inc. lifted its stake in Energen by 12.2% in the fourth quarter. Franklin Resources Inc. now owns 1,438,419 shares of the oil and gas producer’s stock valued at $82,810,000 after buying an additional 156,665 shares in the last quarter. Finally, Rothschild Asset Management Inc. lifted its stake in Energen by 25.6% in the first quarter. Rothschild Asset Management Inc. now owns 886,134 shares of the oil and gas producer’s stock valued at $55,702,000 after buying an additional 180,683 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.
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A number of research analysts have weighed in on the stock. Bank of America raised shares of Energen from a “neutral” rating to a “buy” rating in a research note on Thursday, May 10th. Stifel Nicolaus set a $98.00 price target on shares of Energen and gave the company a “buy” rating in a research note on Tuesday, April 24th. Zacks Investment Research raised shares of Energen from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Wednesday, April 18th. Morgan Stanley lifted their price target on shares of Energen from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, April 20th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of Energen in a research note on Thursday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $70.82.
In related news, insider David A. Godsey sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $57.77, for a total transaction of $346,620.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Z. Cohen bought 17,500 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were purchased at an average price of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the acquisition, the director now owns 17,500 shares of the company’s stock, valued at approximately $1,003,800. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.
Energen opened at $67.37 on Friday, according to Marketbeat. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.48 and a current ratio of 0.53. Energen has a 12-month low of $46.16 and a 12-month high of $70.27. The company has a market capitalization of $6.56 billion, a PE ratio of 39.63 and a beta of 1.43.
Energen (NYSE:EGN) last issued its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. The business had revenue of $356.17 million for the quarter, compared to the consensus estimate of $335.96 million. Energen had a net margin of 34.60% and a return on equity of 4.95%. The firm’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) earnings per share. analysts predict that Energen will post 3.55 EPS for the current fiscal year.
Energen Corporation, through its subsidiary, Energen Resources Corporation, engages in the exploration, development, and production of oil, natural gas liquids, and natural gas. The company has operations 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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