Energean (LON:ENOG) Reaches New 1-Year Low – Here’s Why

Energean plc (LON:ENOG)’s share price hit a new 52-week low on Tuesday . The company traded as low as GBX 674.50 and last traded at GBX 679, with a volume of 1673206 shares. The stock had previously closed at GBX 684.50.

Analysts Set New Price Targets

A number of brokerages have recently commented on ENOG. Jefferies Financial Group reaffirmed an “underperform” rating and issued a GBX 680 price objective on shares of Energean in a research report on Thursday, May 21st. Stifel Nicolaus reiterated a “buy” rating and set a GBX 950 target price on shares of Energean in a research report on Wednesday, May 20th. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 765 price target on shares of Energean in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of GBX 798.33.

Energean Stock Down 0.7%

The company has a debt-to-equity ratio of 2,560.13, a current ratio of 0.79 and a quick ratio of 1.42. The stock has a market cap of £1.26 billion, a price-to-earnings ratio of -4.23 and a beta of 0.23. The firm’s 50-day moving average is GBX 798.47 and its 200 day moving average is GBX 849.77.

Insider Buying and Selling at Energean

In other news, insider Efstathios Topouzoglou acquired 50,000 shares of the company’s stock in a transaction dated Friday, June 19th. The stock was acquired at an average cost of GBX 681 per share, for a total transaction of £340,500. Also, insider Matthaios Rigas bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The stock was purchased at an average cost of GBX 681 per share, for a total transaction of £340,500. 19.58% of the stock is owned by insiders.

About Energean

Energean plc engages in the exploration, development, and production of oil and gas. It operates through four segments: Europe, Israel, Egypt, and New Ventures. The company holds interests in the Eastern Mediterranean. Its flagship project is the Karish project located in Israel. It also provides financing services; and holds a gas transportation license. The company was formerly known as Energean Oil & Gas plc and changed its name to Energean plc in May 2020. Energean plc was founded in 2007 and is based in London, the United Kingdom.