ENI (NYSE:E) Shares Gap Down – What’s Next?

Eni S.p.A. (NYSE:E) gapped down prior to trading on Tuesday . The stock had previously closed at $29.92, but opened at $28.82. ENI shares last traded at $28.96, with a volume of 29,141 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on E. Morgan Stanley upgraded ENI from an “equal weight” rating to an “overweight” rating and set a $39.60 price target for the company in a research report on Thursday, August 29th. StockNews.com raised ENI from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group reiterated a “buy” rating on shares of ENI in a research note on Tuesday, October 15th. BNP Paribas raised shares of ENI from an “underperform” rating to a “neutral” rating in a research note on Friday, September 13th. Finally, Sanford C. Bernstein downgraded shares of ENI from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

ENI Stock Performance

The stock has a 50-day moving average price of $30.74 and a 200 day moving average price of $31.07. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $48.88 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.30 and a beta of 0.95.

Hedge Funds Weigh In On ENI

Institutional investors and hedge funds have recently modified their holdings of the company. Natixis Advisors LLC increased its stake in ENI by 12.8% in the third quarter. Natixis Advisors LLC now owns 2,546,312 shares of the oil and gas exploration company’s stock valued at $77,179,000 after purchasing an additional 288,968 shares during the last quarter. FMR LLC grew its position in shares of ENI by 33.5% in the 3rd quarter. FMR LLC now owns 583,677 shares of the oil and gas exploration company’s stock valued at $17,691,000 after buying an additional 146,431 shares during the last quarter. Raymond James & Associates boosted its stake in ENI by 0.7% in the third quarter. Raymond James & Associates now owns 503,920 shares of the oil and gas exploration company’s stock valued at $15,274,000 after acquiring an additional 3,738 shares in the last quarter. American Century Companies Inc. grew its stake in ENI by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 333,308 shares of the oil and gas exploration company’s stock worth $10,263,000 after buying an additional 22,695 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in ENI during the second quarter worth approximately $6,875,000. Institutional investors and hedge funds own 1.18% of the company’s stock.

About ENI

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.