ABC Arbitrage SA Takes $691,000 Position in Eni SpA $E

ABC Arbitrage SA bought a new position in Eni SpA (NYSE:E) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,207 shares of the oil and gas exploration company’s stock, valued at approximately $691,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of ENI in the first quarter valued at about $203,000. Bleakley Financial Group LLC lifted its holdings in shares of ENI by 11.8% during the first quarter. Bleakley Financial Group LLC now owns 32,106 shares of the oil and gas exploration company’s stock worth $1,818,000 after purchasing an additional 3,401 shares during the period. Archer Investment Corp acquired a new stake in shares of ENI during the first quarter worth about $327,000. Sequoia Financial Advisors LLC boosted its position in ENI by 3.7% in the first quarter. Sequoia Financial Advisors LLC now owns 34,588 shares of the oil and gas exploration company’s stock valued at $1,958,000 after buying an additional 1,237 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in ENI by 18.8% in the first quarter. Kornitzer Capital Management Inc. KS now owns 11,735 shares of the oil and gas exploration company’s stock valued at $664,000 after buying an additional 1,860 shares during the last quarter. Institutional investors and hedge funds own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

E has been the subject of several research reports. Wall Street Zen cut shares of ENI from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. BNP Paribas Exane upgraded shares of ENI from a “neutral” rating to an “outperform” rating and set a $64.30 price objective on the stock in a research note on Friday, April 17th. Weiss Ratings raised shares of ENI from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Dbs Bank upgraded shares of ENI from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 28th. Finally, Royal Bank Of Canada upped their price target on shares of ENI from $24.00 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ENI presently has a consensus rating of “Moderate Buy” and an average target price of $42.30.

ENI Stock Up 3.6%

Shares of NYSE E opened at $49.45 on Tuesday. The firm has a market cap of $83.48 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 0.28 and a beta of 0.40. The company’s 50-day simple moving average is $51.64 and its 200-day simple moving average is $48.43. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 0.40. Eni SpA has a 52-week low of $32.76 and a 52-week high of $58.00.

ENI (NYSE:E) last released its quarterly earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.79 earnings per share for the quarter. The firm had revenue of $23.22 billion during the quarter. ENI had a net margin of 3.37% and a return on equity of 9.21%. Equities analysts predict that Eni SpA will post 5.09 EPS for the current fiscal year.

About ENI

ENI S.p.A. is an integrated energy company headquartered in Rome, Italy, founded in 1953 as a state-established hydrocarbon entity and later transformed into a publicly traded multinational. The firm’s activities span the full hydrocarbon value chain and extend into power generation and low‑carbon energy solutions. ENI maintains a long history in exploration and production, engineering and project development, and downstream operations that include refining, petrochemicals and retail fuel distribution.

Core businesses include upstream exploration and production of oil and natural gas, midstream and liquefied natural gas (LNG) handling, and downstream refining and marketing of petroleum products and lubricants.