Zacks Research Downgrades ENI (NYSE:E) to Strong Sell

ENI (NYSE:E) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Hsbc Global Res cut shares of ENI from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of ENI in a research report on Wednesday. Citigroup reaffirmed a “neutral” rating on shares of ENI in a research report on Tuesday, November 4th. HSBC lowered ENI from a “buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, Jefferies Financial Group restated a “buy” rating on shares of ENI in a report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.60.

ENI Stock Performance

Shares of ENI stock opened at $38.72 on Wednesday. The stock has a market capitalization of $65.83 billion, a price-to-earnings ratio of 21.16 and a beta of 0.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.16 and a quick ratio of 0.98. The business has a 50-day moving average of $37.73 and a 200 day moving average of $35.98. ENI has a 12 month low of $24.65 and a 12 month high of $39.41.

ENI (NYSE:E) last issued its quarterly earnings results on Friday, October 24th. The oil and gas exploration company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.17. The business had revenue of $24.11 billion for the quarter, compared to analysts’ expectations of $19.88 billion. ENI had a net margin of 3.20% and a return on equity of 8.53%. As a group, sell-side analysts forecast that ENI will post 3.74 earnings per share for the current year.

Institutional Trading of ENI

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. NewSquare Capital LLC boosted its position in shares of ENI by 179.3% during the 2nd quarter. NewSquare Capital LLC now owns 916 shares of the oil and gas exploration company’s stock worth $30,000 after acquiring an additional 588 shares in the last quarter. MAI Capital Management raised its position in shares of ENI by 2,488.4% during the 2nd quarter. MAI Capital Management now owns 1,113 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 1,070 shares in the last quarter. Advisory Services Network LLC purchased a new stake in ENI during the third quarter worth approximately $47,000. Larson Financial Group LLC boosted its holdings in ENI by 37.5% in the third quarter. Larson Financial Group LLC now owns 1,387 shares of the oil and gas exploration company’s stock valued at $48,000 after purchasing an additional 378 shares in the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in ENI in the third quarter valued at approximately $48,000. 1.18% of the stock is currently owned by institutional investors and hedge funds.

ENI Company Profile

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.