|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||48.93 - 50.68|
|52 Week Range||46.16 - 64.44|
|PE Ratio (TTM)||71.19|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
A hedge fund that has been encouraging Energen Corp. to sell itself is warning of a potential proxy battle with the energy company, which is one of Birmingham's largest publicly traded companies. Corvex said its stake in Energen now eclipses 10 percent, which gives it the power under Alabama law to call a special meeting. As we reported earlier this year, Corvex has called Energen undervalued and said its financial performance lagged its peers despite its attractive oil and gas assets in the Permian Basin.
The EIA reported that US natural gas inventories rose by 53 Bcf to 3,082 Bcf on August 4–11, 2017. Inventories rose 1.7% week-over-week.
Elliott Management has built a big position in Energen Corp., a natural-gas company already under pressure from another activist to sell itself. The hedge fund owns a stake between 4% and 5% and is joining ...