ENI (E) Upgraded at Zacks Investment Research

ENI (NYSE:E) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $42.00 price objective on the oil and gas exploration company’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.85% from the company’s previous close.

According to Zacks, “Eni expects oil and gas production in 2017-2020 to grow at 3% per year.  For 2017, Eni projects oil and natural gas output at 1.84 million (BOE/D), up 5% year over year. Start-up of new upstream projects in Ghana, Angola, Indonesia, Mexico as well as Egypt have been supporting Eni's crude production growth. Eni commenced natural gas production in Zohr field, located off the coast of Egypt. This new start up would add considerably to the company’s production. Moreover, Eni’s exit from low-profit operations and broadening of its international asset base hold promise. Eni completely exited from the gas sector in Hungary with the sale of its stake in Tigaz Zrt. On top of that, enhancing oil and gas productions from key upstream projects while maintaining lower capital spending helped the company to generate organic cash balance of €5 billion. Eni expects to fund its future capital spending and dividend payments from this fund.”

A number of other equities research analysts have also weighed in on E. Goldman Sachs Group reiterated a “buy” rating on shares of ENI in a research note on Monday, October 2nd. upgraded shares of ENI from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $29.00.

ENI (NYSE E) traded down $0.66 during mid-day trading on Monday, reaching $36.57. The company had a trading volume of 133,949 shares, compared to its average volume of 239,236. The company has a market cap of $67,650.38, a PE ratio of 36.57 and a beta of 0.82. ENI has a fifty-two week low of $29.44 and a fifty-two week high of $37.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.27 and a quick ratio of 1.10.

ENI (NYSE:E) last announced its 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 company had revenue of $18.42 billion for the quarter. ENI had a net margin of 2.50% and a return on equity of 3.69%. analysts predict that ENI will post 1.39 EPS for the current year.

Several large investors have recently bought and sold shares of E. Macquarie Group Ltd. increased its stake in shares of ENI by 16.4% in the 2nd quarter. Macquarie Group Ltd. now owns 2,871,258 shares of the oil and gas exploration company’s stock worth $86,310,000 after purchasing an additional 405,222 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of ENI by 25.9% in the 3rd quarter. Mackenzie Financial Corp now owns 1,013,177 shares of the oil and gas exploration company’s stock worth $33,506,000 after purchasing an additional 208,682 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of ENI in the 3rd quarter worth $3,667,000. Parametric Portfolio Associates LLC increased its stake in shares of ENI by 20.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 522,708 shares of the oil and gas exploration company’s stock worth $15,713,000 after purchasing an additional 88,111 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of ENI by 17.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 366,764 shares of the oil and gas exploration company’s stock worth $11,025,000 after purchasing an additional 54,997 shares in the last quarter. Hedge funds and other institutional investors own 1.64% of the company’s stock.

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ENI Company Profile

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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