Encompass Capital Advisors Lowers stake in Energen Corporation (EGN)

Energen Corporation (EGN) : Encompass Capital Advisors reduced its stake in Energen Corporation by 1.54% during the most recent quarter end. The investment management company now holds a total of 630,153 shares of Energen Corporation which is valued at $33,524,140 after selling 9,847 shares in Energen Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Energen Corporation makes up approximately 9.06% of Encompass Capital Advisors’s portfolio.

Other Hedge Funds, Including , Arosa Capital Management Lp added EGN to its portfolio by purchasing 310,100 company shares during the most recent quarter which is valued at $16,497,320. Energen Corporation makes up approx 3.58% of Arosa Capital Management Lp’s portfolio.Allianz Asset Management Ag boosted its stake in EGN in the latest quarter, The investment management firm added 36,763 additional shares and now holds a total of 251,076 shares of Energen Corporation which is valued at $13,357,243. Energen Corporation makes up approx 0.02% of Allianz Asset Management Ag’s portfolio.Credit Suisse Ag boosted its stake in EGN in the latest quarter, The investment management firm added 38,735 additional shares and now holds a total of 159,518 shares of Energen Corporation which is valued at $8,486,358. Energen Corporation makes up approx 0.01% of Credit Suisse Ag’s portfolio.Castleark Management reduced its stake in EGN by selling 35,340 shares or 14.99% in the most recent quarter. The Hedge Fund company now holds 200,360 shares of EGN which is valued at $10,659,152. Energen Corporation makes up approx 0.32% of Castleark Management’s portfolio.Mutual Of America Capital Management boosted its stake in EGN in the latest quarter, The investment management firm added 5,689 additional shares and now holds a total of 71,856 shares of Energen Corporation which is valued at $3,484,297. Energen Corporation makes up approx 0.07% of Mutual Of America Capital Management’s portfolio.

Energen Corporation opened for trading at $57.22 and hit $58.53 on the upside on Thursday, eventually ending the session at $58.48, with a gain of 1.70% or 0.98 points. The heightened volatility saw the trading volume jump to 11,16,234 shares. Company has a market cap of $5,677 M.

On the company’s financial health, Energen Corporation reported $-0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.35. The company had revenue of $105.80 million for the quarter, compared to analysts expectations of $151.34 million. The company’s revenue was down -37.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Energen Corporation. Williams Capital Group Initiated Energen Corporation on Aug 29, 2016 to “Buy”, Price Target of the shares are set at $68.Company shares were Reiterated by Barclays on Aug 16, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 60 from a previous price target of $52 .Company shares were Reiterated by RBC Capital Mkts on Aug 10, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .

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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