As Energen Corp (EGN) Share Price Rose, Corvex Management LP Has Upped Holding by $506.28 Million

February 23, 2018 - By Michael Pereira

Investors sentiment decreased to 1.02 in Q3 2017. Its down 0.19, from 1.21 in 2017Q2. It turned negative, as 34 investors sold EGN shares while 86 reduced holdings. 41 funds opened positions while 81 raised stakes. 89.38 million shares or 7.87% less from 97.02 million shares in 2017Q2 were reported. Cambrian Capital Limited Partnership has invested 5.76% of its portfolio in Energen Corporation (NYSE:EGN). Bb&T Limited Liability Corp has invested 0% in Energen Corporation (NYSE:EGN). 209,091 are held by Hancock Co. Amalgamated Bankshares invested in 17,772 shares or 0.03% of the stock. Prudential reported 0.01% stake. California Employees Retirement Systems stated it has 0.01% in Energen Corporation (NYSE:EGN). Quinn Opportunity Prtnrs Ltd Limited Liability Company has 10,500 shares. Citadel Ltd Llc holds 28,432 shares or 0% of its portfolio. Brinker stated it has 0.02% of its portfolio in Energen Corporation (NYSE:EGN). Int Group Incorporated has invested 0.04% in Energen Corporation (NYSE:EGN). Ironwood Counsel Ltd Liability Co reported 4,000 shares. Regions Fincl owns 11,721 shares or 0.01% of their US portfolio. United Kingdom-based Legal & General Gru Public Limited has invested 0.01% in Energen Corporation (NYSE:EGN). Natixis has 61,069 shares for 0.03% of their portfolio. Cutter Brokerage invested in 44,790 shares or 0.97% of the stock.

Keith Meister increased its stake in Energen Corp (EGN) by 2258.08% based on its latest 2017Q3 regulatory filing with the SEC. Corvex Management Lp bought 9.38 million shares as the company’s stock rose 5.63% with the market. The hedge fund run by Keith Meister held 9.79M shares of the oil & gas production company at the end of 2017Q3, valued at $535.36 million, up from 415,200 at the end of the previous reported quarter. Corvex Management Lp who had been investing in Energen Corp for a number of months, seems to be bullish on the $5.36B market cap company. The stock increased 1.47% or $0.8 during the last trading session, reaching $55.1. About 156,327 shares traded. Energen Corporation (NYSE:EGN) has risen 35.21% since February 23, 2017 and is uptrending. It has outperformed by 18.51% the S&P500.

Corvex Management Lp, which manages about $8.18B and $2.66B US Long portfolio, decreased its stake in Pandora Media Inc (NYSE:P) by 9.35 million shares to 11.41M shares, valued at $87.88 million in 2017Q3, according to the filing. It also reduced its holding in Spdr Series Trust (Put) (XOP) by 1.50M shares in the quarter, leaving it with 2.00 million shares, and cut its stake in Jetblue Airways Corp (NASDAQ:JBLU).

More recent Energen Corporation (NYSE:EGN) news were published by: Streetinsider.com which released: “Corvex Nominates Four Candidates for Election to Board of Energen Corporation …” on January 31, 2018. Also Seekingalpha.com published the news titled: “Energen upgraded, Range Resources downgraded at Morgan Stanley” on January 24, 2018. Seekingalpha.com‘s news article titled: “Energen’s (EGN) CEO James McManus on Q4 2017 Results – Earnings Call Transcript” with publication date: February 20, 2018 was also an interesting one.

Energen Corporation (NYSE:EGN) Ratings Coverage

Among 38 analysts covering Energen Corporation (NYSE:EGN), 27 have Buy rating, 2 Sell and 9 Hold. Therefore 71% are positive. Energen Corporation had 119 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Tuesday, June 14 by Deutsche Bank. Barclays Capital maintained the stock with “Hold” rating in Friday, April 21 report. Topeka Capital Markets maintained Energen Corporation (NYSE:EGN) rating on Thursday, October 15. Topeka Capital Markets has “Buy” rating and $78 target. Citigroup maintained Energen Corporation (NYSE:EGN) on Tuesday, August 15 with “Neutral” rating. The stock has “Buy” rating by Suntrust Robinson on Tuesday, February 16. Citigroup maintained Energen Corporation (NYSE:EGN) rating on Monday, September 14. Citigroup has “Neutral” rating and $56 target. Topeka Capital Markets maintained the shares of EGN in report on Thursday, February 18 with “Buy” rating. Deutsche Bank maintained Energen Corporation (NYSE:EGN) on Wednesday, August 10 with “Hold” rating. The firm has “Neutral” rating by Citigroup given on Thursday, July 13. The firm has “Overweight” rating given on Friday, May 13 by JP Morgan.

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