Energean (LON:ENOG) Shares Break Above Fifty Day Moving Average – What’s Next?

Energean plc (LON:ENOG) shares passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of GBX 751.26 and traded as high as GBX 759. Energean shares last traded at GBX 756, with a volume of 11,031,381 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ENOG shares. Jefferies Financial Group raised their price objective on Energean from GBX 680 to GBX 800 and gave the company a “hold” rating in a research note on Monday, September 7th. Berenberg Bank boosted their target price on Energean from GBX 765 to GBX 780 and gave the stock a “hold” rating in a research report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of GBX 843.33.

Energean Price Performance

The company has a debt-to-equity ratio of 1,571.48, a quick ratio of 1.42 and a current ratio of 0.80. The company’s fifty day simple moving average is GBX 751.26 and its two-hundred day simple moving average is GBX 805.23. The stock has a market capitalization of £1.40 billion, a PE ratio of -6.63 and a beta of 0.23.

Insider Activity

In related news, insider Andreas Persianis acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of GBX 755 per share, for a total transaction of £37,750. 19.62% of the stock is owned by corporate insiders.

Energean Company Profile

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.