Zacks Investment Research lowered shares of ENI S.p.A. (NYSE:E) from a hold rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “At the end of the first quarter, Eni’s long-term debt is €20.2 billion. The company’s debt to capitalization ratio is 33.9% compared to the broader industry average of 28.6%. Hence, high leverage remains a cause of concern. Also, Eni’s shares have underperformed the Zacks categorized Oil & Gas-International Integrated industry during the last two years. The stock was down 10.5%, whereas the broader industry registered a fall of 1.9% during the aforesaid period. The company’s earnings surprise history is not impressive. Evidently, the company failed to beat the Zacks Consensus Estimate in two of the last four quarters with an average earnings miss of 43.31%.  On top of that, Eni's upstream portfolio carries greater political risk than peers as it has the highest exposure to the OPEC countries. Other risks faced by Eni are further disruptions in production and the inability to sell its non-core assets.”

Several other equities analysts have also recently weighed in on the company. Morgan Stanley cut ENI S.p.A. from an equal weight rating to an underweight rating in a report on Wednesday, April 5th. BidaskClub lowered ENI S.p.A. from a sell rating to a strong sell rating in a research report on Thursday, June 22nd. Exane BNP Paribas lowered ENI S.p.A. from a neutral rating to an underperform rating in a research report on Friday, May 26th. BNP Paribas lowered ENI S.p.A. from a neutral rating to an underperform rating in a research report on Sunday, May 28th. Finally, Deutsche Bank AG lowered ENI S.p.A. from a buy rating to a hold rating in a research report on Tuesday, April 4th. Six equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $36.00.

Shares of ENI S.p.A. (NYSE E) opened at 31.18 on Thursday. ENI S.p.A. has a 12-month low of $26.15 and a 12-month high of $34.62. The firm’s 50-day moving average price is $30.53 and its 200 day moving average price is $31.51. The firm has a market cap of $55.72 billion, a P/E ratio of 162.40 and a beta of 0.76.

ENI S.p.A. (NYSE:E) last released its quarterly earnings data on Friday, July 28th. The oil and gas exploration company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.18. ENI S.p.A. had a return on equity of 2.20% and a net margin of 1.14%. The business had revenue of $17.20 billion for the quarter. On average, equities analysts expect that ENI S.p.A. will post $2.29 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning increased its stake in ENI S.p.A. by 41.0% in the second quarter. Creative Planning now owns 4,391 shares of the oil and gas exploration company’s stock valued at $132,000 after buying an additional 1,277 shares during the period. Sei Investments Co. increased its stake in ENI S.p.A. by 35.5% in the first quarter. Sei Investments Co. now owns 4,249 shares of the oil and gas exploration company’s stock valued at $139,000 after buying an additional 1,114 shares during the period. FTB Advisors Inc. purchased a new stake in ENI S.p.A. during the first quarter valued at about $150,000. Dynamic Technology Lab Private Ltd purchased a new stake in ENI S.p.A. during the first quarter valued at about $215,000. Finally, US Bancorp DE increased its stake in ENI S.p.A. by 38.0% in the first quarter. US Bancorp DE now owns 7,523 shares of the oil and gas exploration company’s stock valued at $246,000 after buying an additional 2,072 shares during the period. 1.69% of the stock is currently owned by institutional investors and hedge funds.

ENI S.p.A. Company Profile

Eni SpA (Eni) is engaged in the exploration, development and production of hydrocarbons, in the supply and marketing of gas, liquefied natural gas (LNG) and power, in the refining and marketing of petroleum products, in the production and marketing of basic petrochemicals, plastics and elastomers and in commodity trading.

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Analyst Recommendations for ENI S.p.A. (NYSE:E)

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