Ironwood Investment Counsel LLC acquired a new stake in shares of Energen Corporation (NYSE:EGN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,000 shares of the oil and gas producer’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. bought a new stake in shares of Energen Corporation during the third quarter valued at about $537,000. First Trust Advisors LP raised its stake in shares of Energen Corporation by 25.6% during the third quarter. First Trust Advisors LP now owns 125,728 shares of the oil and gas producer’s stock valued at $6,875,000 after purchasing an additional 25,592 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Energen Corporation during the third quarter valued at about $1,126,000. Shell Asset Management Co. raised its stake in shares of Energen Corporation by 1,441.1% during the third quarter. Shell Asset Management Co. now owns 13,284 shares of the oil and gas producer’s stock valued at $960,000 after purchasing an additional 12,422 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Energen Corporation during the second quarter valued at about $584,000. Institutional investors and hedge funds own 94.01% of the company’s stock.

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Energen Corporation (EGN) traded up 3.607% during trading on Wednesday, reaching $53.565. The company’s stock had a trading volume of 450,323 shares. The stock’s 50 day moving average is $52.83 and its 200-day moving average is $52.04. Energen Corporation has a 52 week low of $46.16 and a 52 week high of $64.44. The firm has a market cap of $5.21 billion, a P/E ratio of 84.755 and a beta of 1.95.

Energen Corporation (NYSE:EGN) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.06. The company had revenue of $256.82 million for the quarter, compared to analyst estimates of $222.60 million. Energen Corporation had a negative return on equity of 1.74% and a net margin of 7.75%. Energen Corporation’s revenue was up 142.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.28) earnings per share. On average, equities research analysts forecast that Energen Corporation will post $0.42 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on EGN shares. Williams Capital set a $76.00 price objective on shares of Energen Corporation and gave the company a “buy” rating in a research note on Tuesday, August 8th. Stifel Nicolaus restated a “buy” rating and set a $79.00 price objective on shares of Energen Corporation in a research note on Sunday, September 3rd. Mizuho restated a “buy” rating and set a $69.00 price objective on shares of Energen Corporation in a research note on Friday, September 29th. SunTrust Banks, Inc. restated a “buy” rating and set a $70.00 price objective on shares of Energen Corporation in a research note on Monday, October 2nd. Finally, Jefferies Group LLC started coverage on shares of Energen Corporation in a research note on Monday, October 9th. They set a “buy” rating and a $68.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $66.00.

Energen Corporation 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.

Institutional Ownership by Quarter for Energen Corporation (NYSE:EGN)

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