Synovus Financial Corp trimmed its holdings in shares of Energen Co. (NYSE:EGN) by 1.9% in the fourth quarter, HoldingsChannel reports. The firm owned 50,859 shares of the oil and gas producer’s stock after selling 1,000 shares during the period. Synovus Financial Corp’s holdings in Energen were worth $2,928,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC increased its stake in shares of Energen by 2.3% during the 2nd quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock worth $264,000 after purchasing an additional 119 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Energen by 32.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,813 shares of the oil and gas producer’s stock worth $335,000 after purchasing an additional 1,436 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Energen by 1.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 79,879 shares of the oil and gas producer’s stock worth $4,599,000 after purchasing an additional 1,485 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Energen by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 15,203 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 1,567 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Energen by 1.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 90,626 shares of the oil and gas producer’s stock worth $4,474,000 after purchasing an additional 1,725 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.
Energen Co. (NYSE:EGN) opened at $52.04 on Wednesday. The firm has a market cap of $5,072.00, a price-to-earnings ratio of -473.09 and a beta of 1.73. Energen Co. has a 1-year low of $46.16 and a 1-year high of $60.07. 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 (NYSE:EGN) last announced its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.22. The company had revenue of $271.80 million for the quarter, compared to analyst estimates of $303.95 million. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. Energen’s revenue for the quarter was up 137.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.27) EPS. equities research analysts expect that Energen Co. will post 0.53 earnings per share for the current year.
A number of analysts recently issued reports on EGN shares. Mizuho set a $72.00 target price on shares of Energen and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Morgan Stanley upgraded shares of Energen from an “equal weight” rating to an “overweight” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $59.00 target price (up previously from $56.00) on shares of Energen in a research report on Thursday, November 9th. Deutsche Bank started coverage on shares of Energen in a research report on Thursday, February 1st. They set a “buy” rating and a $70.00 target price on the stock. Finally, Barclays upgraded shares of Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 target price on the stock in a research report on Monday, November 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Energen has an average rating of “Buy” and an average target price of $66.71.
In other Energen news, Director Lori A. Lancaster bought 1,000 shares of Energen stock in a transaction that occurred on Friday, December 22nd. The shares were acquired at an average price of $57.79 per share, for a total transaction of $57,790.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $57,790. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Corvex Management Lp sold 80,294 shares of Energen stock in a transaction on Friday, December 29th. The shares were sold at an average price of $57.56, for a total transaction of $4,621,722.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
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Energen 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.
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