Energean (LON:ENOG) Reaches New 52-Week Low – Should You Sell?

Energean plc (LON:ENOG) shares reached a new 52-week low during mid-day trading 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.

Wall Street Analysts Forecast Growth

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

Energean Trading Down 0.7%

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

Insider Buying and Selling

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