Short Interest in Energen (EGN) Expands By 61.2%

Energen (NYSE:EGN) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 3,721,653 shares, a growth of 61.2% from the April 13th total of 2,308,702 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average trading volume of 1,178,045 shares, the short-interest ratio is currently 3.2 days.

Energen opened at $68.37 on Friday, Marketbeat.com reports. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 91.16 and a beta of 1.43. Energen has a fifty-two week low of $65.32 and a fifty-two week high of $67.15.

Energen (NYSE:EGN) last posted its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. The company had revenue of $356.17 million during the quarter, compared to analysts’ expectations of $335.96 million. Energen had a net margin of 34.60% and a return on equity of 4.95%. The firm’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. equities research analysts predict that Energen will post 3.55 EPS for the current year.

In other Energen news, Director Jonathan Z. Cohen acquired 17,500 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were acquired at an average cost of $57.36 per share, with a total value of $1,003,800.00. Following the acquisition, the director now directly owns 17,500 shares of the company’s stock, valued at $1,003,800. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Godsey sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $57.77, for a total transaction of $346,620.00. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Legal & General Group Plc raised its position in Energen by 3.7% during the first quarter. Legal & General Group Plc now owns 127,410 shares of the oil and gas producer’s stock worth $8,009,000 after acquiring an additional 4,505 shares during the period. Highbridge Capital Management LLC acquired a new position in Energen during the first quarter worth $2,200,000. PointState Capital LP acquired a new position in Energen during the first quarter worth $19,329,000. Verition Fund Management LLC acquired a new position in Energen during the first quarter worth $535,000. Finally, Sciencast Management LP acquired a new position in Energen during the first quarter worth $615,000. Institutional investors own 94.44% of the company’s stock.

EGN has been the topic of several recent research reports. TheStreet raised shares of Energen from a “c+” rating to a “b-” rating in a report on Monday, April 16th. Williams Capital set a $74.00 price objective on shares of Energen and gave the company a “buy” rating in a report on Tuesday, February 20th. Deutsche Bank assumed coverage on shares of Energen in a report on Thursday, February 1st. They issued a “buy” rating and a $70.00 price objective on the stock. Stifel Nicolaus set a $85.00 price target on shares of Energen and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Seaport Global Securities raised shares of Energen from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Energen presently has an average rating of “Buy” and an average target price of $70.82.

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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