Energen Target of Unusually High Options Trading (EGN)

Energen (NYSE:EGN) was the recipient of unusually large options trading on Monday. Stock traders acquired 2,157 call options on the stock. This represents an increase of 1,319% compared to the average volume of 152 call options.

Several brokerages have commented on EGN. Bank of America upgraded Energen from a “neutral” rating to a “buy” rating in a research note on Thursday, May 10th. Williams Capital set a $79.00 price target on Energen and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Zacks Investment Research lowered Energen from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Jefferies Group restated a “buy” rating and set a $79.00 price target on shares of Energen in a research note on Thursday, April 26th. Finally, Stephens restated a “buy” rating and set a $92.00 price target on shares of Energen in a research note on Tuesday, April 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $70.82.

EGN stock opened at $71.72 on Tuesday. 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 has a 1 year low of $46.16 and a 1 year high of $71.83. The stock has a market capitalization of $6.56 billion, a PE ratio of 95.63 and a beta of 1.43.

Energen (NYSE:EGN) last posted its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Energen had a return on equity of 4.95% and a net margin of 34.60%. The business had revenue of $356.17 million during the quarter, compared to analyst estimates of $335.96 million. During the same quarter last year, the firm earned ($0.13) earnings per share. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. equities analysts predict that Energen will post 3.55 earnings per share for the current year.

In other news, Director Jonathan Z. Cohen purchased 17,500 shares of the company’s stock in a transaction on Friday, March 9th. The stock was bought at an average cost of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at approximately $1,003,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman J T. Mcmanus sold 3,116 shares of the company’s stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $58.06, for a total value of $180,914.96. Following the sale, the chairman now owns 115,794 shares of the company’s stock, valued at $6,722,999.64. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its stake in Energen by 86.2% during the 4th quarter. Millennium Management LLC now owns 2,928,514 shares of the oil and gas producer’s stock valued at $168,595,000 after purchasing an additional 1,355,480 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Energen during the 1st quarter valued at approximately $25,144,000. PointState Capital LP acquired a new stake in Energen during the 1st quarter valued at approximately $19,329,000. SIR Capital Management L.P. acquired a new stake in Energen during the 4th quarter valued at approximately $14,309,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its stake in Energen by 473.3% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 245,961 shares of the oil and gas producer’s stock valued at $14,160,000 after purchasing an additional 203,061 shares in the last quarter. Institutional investors and hedge funds own 92.49% of the company’s stock.

About Energen

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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