Energean (LON:ENOG) Trading Up 0.4% – Time to Buy?

Energean plc (LON:ENOG)’s share price was up 0.4% during mid-day trading on Friday . The stock traded as high as GBX 1,031 ($12.97) and last traded at GBX 1,016 ($12.78). Approximately 173,076 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 581,400 shares. The stock had previously closed at GBX 1,012 ($12.73).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank downgraded shares of Energean to a “hold” rating and dropped their target price for the company from GBX 1,175 ($14.79) to GBX 1,045 ($13.15) in a research report on Thursday, December 5th.

Energean Stock Performance

The stock’s 50-day moving average is GBX 995.57 and its 200 day moving average is GBX 975.79. The stock has a market cap of £1.86 billion, a price-to-earnings ratio of 883.48 and a beta of 0.85. The company has a debt-to-equity ratio of 498.55, a current ratio of 1.31 and a quick ratio of 1.42.

Energean Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a dividend yield of 2.17%. Energean’s dividend payout ratio is currently 7,826.09%.

Insider Activity at Energean

In related news, insider Matthaios Rigas acquired 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average price of GBX 850 ($10.70) per share, with a total value of £340,000 ($427,834.40). Company insiders own 24.40% of the company’s stock.

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.