Goldman Sachs Group Inc. cut its stake in shares of Energen Co. (NYSE:EGN) by 40.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 751,990 shares of the oil and gas producer’s stock after selling 509,491 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.77% of Energen worth $43,292,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new position in shares of Energen during the fourth quarter valued at $109,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Energen in the fourth quarter valued at $115,000. Cerebellum GP LLC acquired a new stake in shares of Energen in the fourth quarter valued at $125,000. Calton & Associates Inc. acquired a new stake in shares of Energen in the fourth quarter valued at $185,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Energen in the fourth quarter valued at $201,000. 93.57% of the stock is owned by institutional investors.
EGN has been the subject of a number of research reports. Mizuho set a $72.00 target price on Energen and gave the company a “buy” rating in a research note on Tuesday, January 16th. Morgan Stanley upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 target price for the company in a research note on Wednesday, January 24th. Deutsche Bank initiated coverage on Energen in a research note on Thursday, February 1st. They issued a “buy” rating and a $70.00 target price for the company. Barclays upgraded Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 target price for the company in a research note on Monday, November 20th. Finally, Stephens restated a “buy” rating and issued a $74.00 target price on shares of Energen in a research note on Thursday, March 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Energen has a consensus rating of “Buy” and an average price target of $67.36.
In related news, Director Lori A. Lancaster bought 1,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was bought at an average cost of $57.79 per share, for a total transaction of $57,790.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $57,790. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Corvex Management Lp sold 80,294 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $57.56, for a total value of $4,621,722.64. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
Shares of Energen Co. (NYSE EGN) opened at $55.45 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $5,583.24, a PE ratio of 17.72 and a beta of 1.61. Energen Co. has a 12-month low of $46.16 and a 12-month high of $60.07.
Energen (NYSE:EGN) last announced its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.22. The firm had revenue of $271.80 million during the quarter, compared to analyst estimates of $303.95 million. Energen had a return on equity of 2.27% and a net margin of 30.12%. The company’s revenue was up 137.3% on a year-over-year basis. During the same period last year, the company earned ($0.27) earnings per share. analysts anticipate that Energen Co. will post 3.17 EPS for the current year.
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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