Legal & General Group Plc lifted its position in shares of Energen Co. (NYSE:EGN) by 6.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,271 shares of the oil and gas producer’s stock after buying an additional 7,858 shares during the period. Legal & General Group Plc owned approximately 0.13% of Energen worth $6,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ironwood Investment Counsel LLC acquired a new stake in shares of Energen during the 3rd quarter worth approximately $219,000. Optimum Investment Advisors acquired a new stake in shares of Energen during the 2nd quarter worth approximately $228,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Energen by 12.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,773 shares of the oil and gas producer’s stock worth $236,000 after buying an additional 527 shares during the last quarter. Flinton Capital Management LLC increased its holdings in shares of Energen by 64.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,848 shares of the oil and gas producer’s stock worth $239,000 after buying an additional 1,904 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Energen during the 2nd quarter worth approximately $244,000. Institutional investors and hedge funds own 96.11% of the company’s stock.
A number of analysts have recently issued reports on the stock. J P Morgan Chase & Co downgraded shares of Energen from a “neutral” rating to an “underweight” rating and set a $57.00 price target for the company. in a report on Friday. Credit Suisse Group began coverage on shares of Energen in a report on Monday, December 11th. They set a “neutral” rating and a $60.00 price target for the company. Wells Fargo & Company began coverage on shares of Energen in a report on Friday, December 1st. They issued a “hold” rating for the company. Scotiabank reiterated a “buy” rating and issued a $63.00 target price on shares of Energen in a report on Wednesday, November 22nd. Finally, Barclays upgraded shares of Energen from an “equal weight” rating to an “overweight” rating and set a $70.00 target price for the company in a report on Monday, November 20th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $65.09.
Energen (NYSE:EGN) last posted its quarterly earnings results on Wednesday, November 8th. The oil and gas producer reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The business had revenue of $191.50 million during the quarter, compared to the consensus estimate of $242.81 million. Energen had a negative net margin of 1.17% and a negative return on equity of 0.45%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. sell-side analysts expect that Energen Co. will post 0.48 EPS for the current fiscal year.
In other Energen news, General Counsel J David Woodruff, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $57.01, for a total value of $142,525.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.
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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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