Point72 Asset Management L.P. Acquires 50,000 Shares of Energen Co. (EGN)

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Point72 Asset Management L.P. lifted its holdings in shares of Energen Co. (NYSE:EGN) by 50.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,000 shares of the oil and gas producer’s stock after buying an additional 50,000 shares during the period. Point72 Asset Management L.P. owned 0.15% of Energen worth $9,429,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Municipal Employees Retirement System of Michigan grew its position in shares of Energen by 2.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 30,200 shares of the oil and gas producer’s stock valued at $1,898,000 after buying an additional 800 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Energen by 18.9% during the 1st quarter. OppenheimerFunds Inc. now owns 5,247 shares of the oil and gas producer’s stock valued at $330,000 after purchasing an additional 834 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Energen by 7.8% during the 1st quarter. Glen Harbor Capital Management LLC now owns 12,040 shares of the oil and gas producer’s stock valued at $757,000 after purchasing an additional 868 shares during the period. Mason Street Advisors LLC boosted its stake in Energen by 1.9% during the 1st quarter. Mason Street Advisors LLC now owns 48,819 shares of the oil and gas producer’s stock valued at $3,069,000 after purchasing an additional 933 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Energen by 0.6% during the 4th quarter. California State Teachers Retirement System now owns 163,242 shares of the oil and gas producer’s stock valued at $9,398,000 after purchasing an additional 952 shares during the period. 93.29% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:EGN opened at $63.73 on Tuesday. The company has a market capitalization of $6.12 billion, a PE ratio of 84.97 and a beta of 1.40. Energen Co. has a twelve month low of $46.16 and a twelve month high of $71.97. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.21.

Energen (NYSE:EGN) last released its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. Energen had a net margin of 34.60% and a return on equity of 4.95%. The business had revenue of $356.17 million for the quarter, compared to the consensus estimate of $335.96 million. During the same period in the previous year, the firm earned ($0.13) EPS. The business’s revenue for the quarter was up 47.8% on a year-over-year basis. equities analysts forecast that Energen Co. will post 3.39 earnings per share for the current year.

In related news, insider David A. Godsey sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $70.00, for a total value of $336,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman J T. Mcmanus sold 3,116 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $58.06, for a total transaction of $180,914.96. Following the completion of the sale, the chairman now owns 115,794 shares in the company, valued at $6,722,999.64. The disclosure for this sale can be found here. 1.05% of the stock is owned by insiders.

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Energen from $68.00 to $67.00 and set a “sell” rating for the company in a research note on Tuesday, May 22nd. Bank of America raised shares of Energen from a “neutral” rating to a “buy” rating in a research note on Thursday, May 10th. Williams Capital reissued a “buy” rating and set a $85.00 target price on shares of Energen in a research note on Wednesday, May 23rd. Stifel Nicolaus set a $98.00 target price on shares of Energen and gave the company a “buy” rating in a research note on Tuesday, April 24th. Finally, Zacks Investment Research raised shares of Energen from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Wednesday, April 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. Energen has a consensus rating of “Buy” and a consensus target price of $72.52.

Energen Profile

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.

Institutional Ownership by Quarter for Energen (NYSE:EGN)

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