Energean (LON:ENOG) Trading 2.7% Higher – Here’s What Happened

Shares of Energean plc (LON:ENOG) shot up 2.7% during trading on Tuesday . The company traded as high as GBX 780 and last traded at GBX 778.50. Approximately 160,702 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,109,318 shares. The stock had previously closed at GBX 758.

Wall Street Analysts Forecast Growth

ENOG has been the subject of several recent research reports. Berenberg Bank reaffirmed a “hold” rating and set a GBX 765 target price on shares of Energean in a report on Wednesday, May 20th. Jefferies Financial Group restated an “underperform” rating and set a GBX 680 price objective on shares of Energean in a research report on Thursday, May 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a GBX 950 price objective on shares of Energean in a research report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of GBX 798.33.

Energean Stock Performance

The company has a debt-to-equity ratio of 2,560.13, a quick ratio of 1.42 and a current ratio of 0.79. The stock’s fifty day moving average is GBX 755.82 and its two-hundred day moving average is GBX 831.90. The firm has a market cap of £1.44 billion, a price-to-earnings ratio of -4.84 and a beta of 0.23.

Insider Activity

In other news, insider Efstathios Topouzoglou bought 50,000 shares of the firm’s stock in a transaction on Friday, June 19th. The stock was purchased at an average price of GBX 681 per share, for a total transaction of £340,500. Also, insider Matthaios Rigas purchased 50,000 shares of the company’s stock in a transaction on Friday, June 19th. The stock was purchased at an average price of GBX 681 per share, for a total transaction of £340,500. 19.63% of the stock is currently 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.