Energen Co. (EGN) Stake Lowered by American International Group Inc.

American International Group Inc. cut its stake in Energen Co. (NYSE:EGN) by 14.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,687 shares of the oil and gas producer’s stock after selling 29,217 shares during the quarter. American International Group Inc. owned 0.17% of Energen worth $14,363,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in Energen by 1.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 51,519 shares of the oil and gas producer’s stock worth $4,439,000 after purchasing an additional 619 shares in the last quarter. Fisher Asset Management LLC increased its stake in Energen by 13.9% during the 3rd quarter. Fisher Asset Management LLC now owns 5,784 shares of the oil and gas producer’s stock worth $498,000 after purchasing an additional 704 shares in the last quarter. United Services Automobile Association increased its stake in Energen by 5.0% during the 2nd quarter. United Services Automobile Association now owns 16,452 shares of the oil and gas producer’s stock worth $1,198,000 after purchasing an additional 784 shares in the last quarter. Oakbrook Investments LLC increased its stake in Energen by 20.7% during the 3rd quarter. Oakbrook Investments LLC now owns 5,250 shares of the oil and gas producer’s stock worth $452,000 after purchasing an additional 900 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Energen by 6.3% during the 2nd quarter. Van ECK Associates Corp now owns 15,812 shares of the oil and gas producer’s stock worth $1,151,000 after purchasing an additional 934 shares in the last quarter. 86.86% of the stock is owned by institutional investors.

EGN opened at $67.47 on Monday. Energen Co. has a fifty-two week low of $47.81 and a fifty-two week high of $89.83. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.43 and a quick ratio of 0.38. The firm has a market cap of $6.58 billion, a PE ratio of 89.96 and a beta of 1.50.

Energen (NYSE:EGN) last posted its earnings results on Tuesday, November 6th. The oil and gas producer reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.11. Energen had a return on equity of 8.70% and a net margin of 31.37%. The company had revenue of $380.88 million during the quarter, compared to the consensus estimate of $364.64 million. On average, sell-side analysts predict that Energen Co. will post 3.56 EPS for the current year.

EGN has been the subject of several research reports. Zacks Investment Research cut shares of Energen from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Morgan Stanley cut their price objective on Energen from $83.00 to $74.00 and set a “hold” rating for the company in a report on Tuesday, November 20th. Royal Bank of Canada increased their price objective on Energen to $81.00 and gave the company a “sector perform” rating in a report on Wednesday, August 15th. ValuEngine downgraded Energen from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Finally, US Capital Advisors downgraded Energen from an “overweight” rating to a “hold” rating in a report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $79.17.

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About Energen

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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