Energen Co. (NYSE:EGN) insider Carl C. Icahn bought 500,000 shares of the stock in a transaction dated Thursday, June 28th. The stock was acquired at an average price of $71.32 per share, with a total value of $35,660,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
EGN stock traded up $0.27 during midday trading on Thursday, reaching $71.73. The stock had a trading volume of 1,488,700 shares, compared to its average volume of 1,239,303. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 95.64 and a beta of 1.40. Energen Co. has a twelve month low of $46.16 and a twelve month high of $72.47.
Energen (NYSE:EGN) last announced its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. Energen had a return on equity of 4.95% and a net margin of 34.60%. The firm had revenue of $356.17 million during the quarter, compared to analyst estimates of $335.96 million. During the same period last year, the company earned ($0.13) earnings per share. The company’s revenue was up 47.8% on a year-over-year basis. sell-side analysts predict that Energen Co. will post 3.44 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. bought a new position in Energen during the fourth quarter worth about $115,000. DekaBank Deutsche Girozentrale boosted its holdings in Energen by 137.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 3,111 shares of the oil and gas producer’s stock worth $189,000 after buying an additional 1,800 shares during the last quarter. Montag A & Associates Inc. bought a new position in Energen during the first quarter worth about $201,000. Fulton Bank N.A. bought a new position in Energen during the first quarter worth about $203,000. Finally, CIBC Asset Management Inc bought a new position in Energen during the first quarter worth about $216,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.
A number of analysts have recently weighed in on EGN shares. JPMorgan Chase & Co. set a $62.00 target price on Energen and gave the company a “sell” rating in a research note on Monday, March 5th. Stifel Nicolaus set a $98.00 target price on Energen and gave the company a “buy” rating in a research note on Tuesday, April 24th. Jefferies Financial Group set a $80.00 target price on Energen and gave the company a “buy” rating in a research note on Monday, March 19th. UBS Group started coverage on Energen in a research note on Wednesday, March 7th. They issued a “neutral” rating and a $62.00 target price for the company. Finally, ValuEngine upgraded Energen from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $72.00.
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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