Energen Co. (NYSE:EGN) Position Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Energen Co. (NYSE:EGN) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,165,141 shares of the oil and gas producer’s stock after selling 18,560 shares during the period. Bank of New York Mellon Corp owned about 1.20% of Energen worth $84,846,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in EGN. LPL Financial LLC increased its position in shares of Energen by 26.9% in the first quarter. LPL Financial LLC now owns 5,772 shares of the oil and gas producer’s stock worth $363,000 after purchasing an additional 1,224 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Energen by 2.5% in the first quarter. Principal Financial Group Inc. now owns 423,854 shares of the oil and gas producer’s stock worth $26,643,000 after buying an additional 10,518 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Energen by 7.7% in the first quarter. Allianz Asset Management GmbH now owns 180,029 shares of the oil and gas producer’s stock worth $11,317,000 after buying an additional 12,908 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Energen during the first quarter valued at approximately $219,000. Finally, Fisher Asset Management LLC purchased a new stake in shares of Energen during the second quarter valued at approximately $370,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on EGN shares. Williams Capital reissued a “hold” rating and set a $87.00 price objective on shares of Energen in a research note on Tuesday, August 7th. ValuEngine lowered Energen from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Royal Bank of Canada raised their price target on Energen to $81.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 15th. Johnson Rice lowered Energen from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $113.00 price objective on shares of Energen in a report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Energen presently has an average rating of “Hold” and an average target price of $79.17.

Shares of Energen stock traded up $1.49 during trading on Monday, hitting $72.12. 3,438,082 shares of the company’s stock traded hands, compared to its average volume of 1,197,372. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.43 and a quick ratio of 0.38. Energen Co. has a 1 year low of $47.81 and a 1 year high of $89.83. The stock has a market capitalization of $7.03 billion, a PE ratio of 96.16 and a beta of 1.50.

Energen (NYSE:EGN) last announced its earnings results on Tuesday, November 6th. The oil and gas producer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.11. The business had revenue of $380.88 million for the quarter, compared to analysts’ expectations of $364.64 million. Energen had a return on equity of 8.70% and a net margin of 31.37%. As a group, sell-side analysts expect that Energen Co. will post 3.57 EPS for the current fiscal year.

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Energen Company Profile

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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Institutional Ownership by Quarter for Energen (NYSE:EGN)

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