Weekly Research Analysts’ Ratings Updates for Eni SpA (E)
Eni SpA (NYSE: E) recently received a number of ratings updates from brokerages and research firms:
- 10/7/2016 – Eni SpA had its “buy” rating reaffirmed by analysts at Citigroup Inc..
- 10/5/2016 – Eni SpA was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating.
- 10/3/2016 – Eni SpA was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Eni signed a deal with the government of Montenegro to explore four offshore blocks in the country for a period of 30 years. We are optimistic about this concession contract as this will significantly enhance the company’s upstream portfolio amid the present downturn in oil prices. We also appreciate Eni’s enhanced production from the Nooros field in Egypt. This is because the company has attained record output in just 13 months after its discovery. However, the ongoing crude woes remain an overhang on the stock. Per recent reports of The Organization of the Petroleum Exporting Countries (OPEC) and The International Energy Agency (IEA), crude market will remain oversupplied through 2017. As a result, oil price will likely remain weak till next year and is expected to drag the performances of Eni’s upstream businesses.”
- 9/23/2016 – Eni SpA was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Eni SpA’s relatively low risk earnings growth and an increasing dividend that yields a solid 4.57% adds visibility to the story. Further with the expected strengthening of global economy, we believe that Eni offers ample opportunity for profitability in the coming quarters. However, Eni's exposure to production in the vulnerable and violence-prone regions in Nigeria poses additional risk. As it is, lower oil prices continue to take a toll on Eni's key upstream unit, while challenges faced by the European gas and refining sectors will restrict downstream performance. Moreover, the commodity price rout is making it difficult for the company to sell assets at what it thinks is a good price. Given these headwinds, we see limited upside from its current level.”
- 9/14/2016 – Eni SpA was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “As per the recent reports of The Organization of the Petroleum Exporting Countries (OPEC) and The International Energy Agency (IEA), crude market will remain oversupplied through 2017. While OPEC expects non-OPEC players to generate higher-than-expected production both this year and the next, IEA cuts global oil demand forecast for 2016 and 2017. As a result, oil price is anticipated to remain weak till next year and is expected to drag the performances of Eni SpA’s upstream businesses. Moreover, Eni SpA’s decision to cut upstream capital expenditure significantly over 2016–2019 raises uncertainty regarding its ability to reach its hydrocarbon production growth target for this period. Consequently, we see Eni SpA as a risky bet that investors should avoid.”
Eni SpA (NYSE:E) traded down 0.54% during midday trading on Wednesday, hitting $29.22. 380,966 shares of the company were exchanged. Eni SpA has a one year low of $24.73 and a one year high of $36.02. The firm’s 50-day moving average price is $29.53 and its 200-day moving average price is $30.54. The stock’s market capitalization is $54.30 billion.
The firm also recently declared a dividend, which was paid on Friday, October 7th. Investors of record on Tuesday, September 20th were given a dividend of $0.648 per share. This is a positive change from Eni SpA’s previous dividend of $0.64. The ex-dividend date was Friday, September 16th. Eni SpA’s dividend payout ratio (DPR) is currently -19.75%.
Eni SpA (Eni) is engaged in oil and gas exploration, development and production, marketing of gas, electricity and liquefied natural gas (LNG), power generation, refining and marketing of petroleum products, production and marketing of petrochemical products and commodity trading. The Company’s segments include Exploration & Production, Gas & Power, and Refining & Marketing.
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