Shares of Energen Corporation (EGN) Sees Large Outflow of Money

Energen Corporation (EGN) : The total negative money flow of $1.41 million on Tuesday indicates selling on strength. The inflow of money on upticks was $9.15 million, compared to $10.56 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.87. The negative money flow of $0.65 million in block trades reveals that the informed traders sold the stock on every bit of price strength. The traded value of the stock on uptick was $0.65 million in a block trade.The transaction value of block trade on downtick was $0.1 million. The price action in the Energen Corporation (EGN) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $58.13 with a gain of $0.41 , a change of 0.71% over the previous days close. The stock registered 2.13% for the week.


Also, KeyBanc maintains its rating on Energen Corporation (NYSE:EGN). The global brokerage major raises the current price target from $63 per share to $66 per share. Analysts at the KeyBanc have a current rating of Overweight on the shares. The rating by the firm was issued on August 22, 2016.

Shares of Energen Corp. rose by 3.82% in the last five trading days and 26.73% for the last 4 weeks. Energen Corp. is up 20.31% in the last 3-month period. Year-to-Date the stock performance stands at 42.03%.

Energen Corporation (NYSE:EGN): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $58.28 and $57.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $59.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $58.22, notching a gain of 0.87% for the day. The total traded volume was 943,451 . The stock had closed at $57.72 on the previous day.

In a related news,The director officer (Chairman and CEO) of Energen Corp, Mcmanus J T sold 10,216 shares at $52.58 on August 11, 2016. The Insider selling transaction had a total value worth of $537,157. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Energen Corporation (Energen) is an oil and gas exploration and production company with headquarters in Birmingham, Alabama. The Company has 1.1 billion barrels of oil-equivalent proved, probable, and possible reserves and another 2.2 billion barrels of oil-equivalent contingent resources. These all-domestic reserves and resources are located primarily in the Permian Basin in west Texas. Energen also has operations in the San Juan Basin in northern New Mexico.

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