Zacks Investment Research Lowers ENI (E) to Hold

ENI (NYSE:E) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Start-up of new upstream projects in Ghana and Angola as well as Indonesia have been supporting Eni's oil production growth. For 2017, Eni expects oil and natural gas production at 1.84 million (BOE/D), up 5% year over year. Also, the company expects oil and gas production in 2017-2020 to grow 3% per year on new field start-ups and ramp-ups. However, we are concerned about the significant rise in expenses related to exploration operations. Eni’s price chart shows that it has underperformed the industry over the last year. Also, declining cash balance and increasing short-term debt loads are reflective of the company’s weak balance sheet. Eni is facing pressure on top line. Over the past three years (2014–2016), total revenues declined at a CAGR of 34.8%.”

E has been the topic of a number of other research reports. Goldman Sachs Group reissued a “buy” rating on shares of ENI in a research report on Monday, October 2nd. raised ENI from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $26.50.

Shares of ENI (E) traded up $0.06 during midday trading on Tuesday, reaching $36.88. The company’s stock had a trading volume of 129,576 shares, compared to its average volume of 262,300. The firm has a market capitalization of $66,150.00, a P/E ratio of 32.64 and a beta of 0.84. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44. ENI has a 1 year low of $29.44 and a 1 year high of $36.89.

ENI (NYSE:E) last announced its quarterly earnings results on Friday, October 27th. The oil and gas exploration company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). The business had revenue of $18.42 billion for the quarter. ENI had a return on equity of 3.69% and a net margin of 2.50%. equities analysts forecast that ENI will post 1.42 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Eqis Capital Management Inc. bought a new stake in shares of ENI in the third quarter valued at approximately $223,000. Shelton Capital Management bought a new stake in shares of ENI in the second quarter valued at approximately $225,000. Advisor Group Inc. boosted its stake in shares of ENI by 31.6% in the second quarter. Advisor Group Inc. now owns 7,625 shares of the oil and gas exploration company’s stock valued at $229,000 after buying an additional 1,832 shares during the period. Sei Investments Co. boosted its stake in shares of ENI by 39.1% in the third quarter. Sei Investments Co. now owns 7,469 shares of the oil and gas exploration company’s stock valued at $246,000 after buying an additional 2,101 shares during the period. Finally, FDx Advisors Inc. bought a new stake in shares of ENI in the third quarter valued at approximately $249,000. 1.64% of the stock is currently owned by institutional investors.

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About ENI

Eni SpA (Eni) is an Italy-based company engaged in the exploration, development and production of hydrocarbons, in the supply and marketing of gas, liquefied natural gas (LNG) and power, in the refining and marketing of petroleum products, in the production and marketing of basic petrochemicals, plastics and elastomers and in commodity trading.

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