ENI (NYSE:E) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

ENI (NYSE:E) released its quarterly earnings results on Thursday. The oil and gas exploration company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.09, Zacks reports. The firm had revenue of $24.33 billion for the quarter, compared to analyst estimates of $19.45 billion. ENI had a net margin of 3.07% and a return on equity of 9.22%.

Here are the key takeaways from ENI’s conference call:

• Eni highlighted strong upstream execution — six major project start-ups in 2025 drove production growth (full-year 1.728 million b/d, ~2% above guidance), a >160% reserves replacement ratio and 500,000 b/d of production under development, plus ~900 million barrels discovered in 2025.
• Financial delivery was robust — CFFO €12.5bn (?€1.5bn ahead of plan), pro forma net CapEx <€5bn, net debt down ~€3bn with pro forma gearing ~14%, and the share buyback was increased from €1.5bn to €1.8bn.
• Transition businesses gained scale and market validation — Plenitude expanded renewables >40% in 2025, Enilive is adding biorefinery capacity (several FIDs and 2m tpa incremental), and Eni reported ~€2bn EBITDA from planned transition assets with third?party interest implying significant enterprise value.
• Industrial transformation faces near-term headwinds — weak chemical markets and low refinery utilization pressured results, prompting early cracker closures (Brindisi, Priolo) and a restructuring of Versalis whose benefits are expected to phase in over 12–18 months.
• 2026 guidance emphasizes disciplined capital allocation — gross CapEx ~€7bn, net CapEx ~€5bn, target pro forma gearing 10–15%, and management reiterates a funded, growing dividend with buybacks as a variable distribution tool; full plan to be detailed at the March Capital Markets Update.

ENI Price Performance

NYSE:E opened at $46.81 on Friday. The stock’s 50-day moving average is $40.52 and its 200-day moving average is $37.61. ENI has a 1-year low of $24.65 and a 1-year high of $46.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.98 and a current ratio of 1.16.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on E shares. Citigroup reiterated a “neutral” rating on shares of ENI in a research report on Tuesday, November 4th. Wall Street Zen raised shares of ENI from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of ENI in a research report on Wednesday, January 21st. Jefferies Financial Group reissued a “buy” rating on shares of ENI in a report on Thursday, January 8th. Finally, Barclays reaffirmed an “overweight” rating on shares of ENI in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, ENI has an average rating of “Hold” and a consensus target price of $34.60.

Hedge Funds Weigh In On ENI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arosa Capital Management LP acquired a new position in ENI in the fourth quarter valued at $4,173,000. O Shaughnessy Asset Management LLC lifted its stake in shares of ENI by 63.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 171,326 shares of the oil and gas exploration company’s stock valued at $6,500,000 after purchasing an additional 66,716 shares during the period. Quantinno Capital Management LP boosted its position in shares of ENI by 44.9% during the 2nd quarter. Quantinno Capital Management LP now owns 202,792 shares of the oil and gas exploration company’s stock valued at $6,575,000 after purchasing an additional 62,834 shares in the last quarter. JPMorgan Chase & Co. grew its stake in ENI by 67.0% during the fourth quarter. JPMorgan Chase & Co. now owns 115,808 shares of the oil and gas exploration company’s stock worth $4,394,000 after purchasing an additional 46,454 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in ENI by 73.9% in the fourth quarter. Corient Private Wealth LLC now owns 91,943 shares of the oil and gas exploration company’s stock worth $3,488,000 after purchasing an additional 39,057 shares in the last quarter. 1.18% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting ENI

Here are the key news stories impacting ENI this week:

• Positive Sentiment: Q4 beat and strong revenue: Eni reported $0.87 EPS vs. $0.78 expected and revenue of $24.3B vs. $19.45B consensus, signaling upside to analyst estimates and supporting near?term earnings momentum. MarketBeat Press Release
• Positive Sentiment: Production and profits rising: Adjusted net profit jumped ~35% year/year and oil & gas production rose >7%, driven by six new projects — supports cash generation and upstream outlook. Reuters: 35% rise
• Positive Sentiment: Strategic progress and capital returns: Management highlighted 4% production growth in 2025, >160% reserves replacement, near?100% exploration success, a major JV with Petronas, Plenitude renewables expansion and increased buybacks funded by capex efficiency — a multi?pronged value?creation story. Seeking Alpha: Strategic Progress
• Positive Sentiment: Venezuela exposure eased: With U.S. sanctions relaxed, Eni can now accept oil as payment for gas and is exploring JVs with U.S. firms — this unlocks previously trapped receivables and potential incremental barrels. Reuters: Venezuela payment
• Neutral Sentiment: Earnings call transcript available for detail: The Q4 earnings call transcript provides management color on production drivers, capex guidance and buyback sizing — useful for modeling but not new headline news. Seeking Alpha: Earnings Transcript
• Neutral Sentiment: Local/regulatory watch — Cyprus meeting: Eni’s CEO met Cyprus leadership on the Kronos project decision, a local permit/regulatory outcome to monitor for regional project timing but currently unresolved. Cyprus Mail: Kronos meeting

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.