Point72 Asset Management L.P. Buys Shares of 40,600 Eni S.p.A. (NYSE:E)

Point72 Asset Management L.P. bought a new stake in Eni S.p.A. (NYSE:E) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 40,600 shares of the oil and gas exploration company’s stock, valued at approximately $1,250,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of ENI during the first quarter valued at $74,000. GAMMA Investing LLC increased its holdings in shares of ENI by 19.8% during the second quarter. GAMMA Investing LLC now owns 2,442 shares of the oil and gas exploration company’s stock valued at $75,000 after purchasing an additional 404 shares during the period. Barometer Capital Management Inc. acquired a new position in shares of ENI during the fourth quarter valued at $119,000. Toronto Dominion Bank acquired a new position in shares of ENI during the first quarter valued at $172,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of ENI during the first quarter valued at $218,000. 1.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada raised ENI from a “sector perform” rating to an “outperform” rating in a report on Monday, July 29th. Morgan Stanley raised ENI from an “equal weight” rating to an “overweight” rating and set a $39.60 target price on the stock in a report on Thursday, August 29th. Redburn Atlantic raised ENI from a “neutral” rating to a “buy” rating in a report on Tuesday, June 25th. BNP Paribas raised ENI from an “underperform” rating to a “neutral” rating in a report on Friday, September 13th. Finally, StockNews.com lowered ENI from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.60.

ENI Trading Up 0.6 %

Shares of E opened at $31.54 on Friday. The business’s 50-day moving average price is $31.53 and its 200 day moving average price is $31.48. The stock has a market capitalization of $53.24 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.34 and a beta of 0.96. Eni S.p.A. has a 1-year low of $28.82 and a 1-year high of $34.30. The company has a current ratio of 1.28, a quick ratio of 1.09 and a debt-to-equity ratio of 0.42.

ENI (NYSE:E) last issued its quarterly earnings results on Friday, July 26th. The oil and gas exploration company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.14). The company had revenue of $24.82 billion during the quarter, compared to analysts’ expectations of $25.74 billion. ENI had a return on equity of 11.84% and a net margin of 4.21%. Analysts expect that Eni S.p.A. will post 4.18 earnings per share for the current year.

ENI Profile

Eni S.p.A. operates as an integrated energy company worldwide. The company engages in exploration, development, extracting, manufacturing, and marketing crude oil and natural gas, oil-based fuels, chemical products, and gas-fired power, as well as energy products from renewable sources. It operates through Exploration & Production; Global Gas & LNG Portfolio (GGP); Enilive, Refining and Chemicals; Plenitude & Power; and Corporate and Other Activities segments.