Energen Co. (EGN) Sees Large Growth in Short Interest

Energen Co. (NYSE:EGN) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 3,636,441 shares, a growth of 56.5% from the January 12th total of 2,323,366 shares. Based on an average daily trading volume, of 1,026,535 shares, the short-interest ratio is presently 3.5 days. Currently, 3.8% of the company’s stock are sold short.

In other Energen news, Director Lori A. Lancaster acquired 1,000 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were purchased at an average cost of $57.79 per share, with a total value of $57,790.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at $57,790. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Corvex Management Lp sold 80,294 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $57.56, for a total transaction of $4,621,722.64. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in EGN. FMR LLC raised its position in Energen by 10.8% in the second quarter. FMR LLC now owns 625,264 shares of the oil and gas producer’s stock worth $30,869,000 after acquiring an additional 60,907 shares during the period. Parametric Portfolio Associates LLC raised its position in Energen by 1.9% in the second quarter. Parametric Portfolio Associates LLC now owns 90,626 shares of the oil and gas producer’s stock worth $4,474,000 after acquiring an additional 1,725 shares during the period. Dimensional Fund Advisors LP raised its position in Energen by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 483,038 shares of the oil and gas producer’s stock worth $23,849,000 after acquiring an additional 4,732 shares during the period. Stifel Financial Corp raised its position in Energen by 102.3% in the second quarter. Stifel Financial Corp now owns 18,787 shares of the oil and gas producer’s stock worth $927,000 after acquiring an additional 9,502 shares during the period. Finally, HighTower Advisors LLC raised its position in Energen by 2.3% in the second quarter. HighTower Advisors LLC now owns 5,345 shares of the oil and gas producer’s stock worth $264,000 after acquiring an additional 119 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Energen (NYSE:EGN) opened at $52.18 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.24. Energen has a 12-month low of $46.16 and a 12-month high of $60.07.

A number of research firms have weighed in on EGN. Deutsche Bank began coverage on shares of Energen in a research note on Thursday, February 1st. They issued a “buy” rating and a $70.00 price objective on the stock. Credit Suisse Group began coverage on shares of Energen in a research note on Monday, December 11th. They issued a “neutral” rating and a $60.00 price objective on the stock. Wells Fargo & Co began coverage on shares of Energen in a research note on Friday, December 1st. They issued a “hold” rating on the stock. Seaport Global Securities raised shares of Energen from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Finally, ValuEngine lowered shares of Energen from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $66.29.

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About Energen

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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