Investors Sell Energen (EGN) on Strength (EGN)
Traders sold shares of Energen Co. (NYSE:EGN) on strength during trading on Wednesday. $178.88 million flowed into the stock on the tick-up and $205.86 million flowed out of the stock on the tick-down, for a money net flow of $26.98 million out of the stock. Of all companies tracked, Energen had the 0th highest net out-flow for the day. Energen traded up $2.06 for the day and closed at $75.20
EGN has been the subject of a number of research reports. Morgan Stanley lifted their price target on Energen from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, April 20th. JPMorgan Chase & Co. decreased their price target on Energen from $68.00 to $67.00 and set a “sell” rating for the company in a research note on Tuesday, May 22nd. Zacks Investment Research upgraded Energen from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Tuesday, May 1st. Jefferies Financial Group set a $85.00 price target on Energen and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Finally, Williams Capital downgraded Energen from a “buy” rating to a “hold” rating and set a $68.00 target price for the company. in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $75.53.
The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.50. The company has a market cap of $7.04 billion, a P/E ratio of 103.25 and a beta of 1.30.
In other Energen news, insider Carl C. Icahn acquired 375,415 shares of Energen stock in a transaction dated Tuesday, June 26th. The stock was acquired at an average cost of $67.70 per share, for a total transaction of $25,415,595.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carl C. Icahn acquired 225,706 shares of Energen stock in a transaction dated Thursday, June 21st. The shares were acquired at an average price of $63.70 per share, with a total value of $14,377,472.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 3,726,727 shares of company stock valued at $268,281,858. Insiders own 1.05% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bray Capital Advisors acquired a new position in shares of Energen during the second quarter worth approximately $124,000. Cerebellum GP LLC acquired a new position in shares of Energen during the second quarter worth approximately $188,000. DekaBank Deutsche Girozentrale boosted its position in shares of 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 period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Energen during the second quarter worth approximately $196,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Energen during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 92.17% of the company’s stock.
Energen Company Profile (NYSE:EGN)
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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