ENI (NYSE:E) Shares Gap Down – Should You Sell?

Eni S.p.A. (NYSE:E)’s share price gapped down before the market opened 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on E. BNP Paribas raised ENI from an “underperform” rating to a “neutral” rating in a research note on Friday, September 13th. StockNews.com raised shares of ENI from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Jefferies Financial Group reissued a “buy” rating on shares of ENI in a research note on Tuesday, October 15th. Sanford C. Bernstein lowered shares of ENI from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada upgraded shares of ENI from a “sector perform” rating to an “outperform” rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.60.

ENI Stock Performance

The stock has a market cap of $48.88 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.30 and a beta of 0.95. The firm’s 50-day moving average price is $30.74 and its two-hundred day moving average price is $31.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.27.

Institutional Trading of ENI

Several institutional investors have recently made changes to their positions in E. Caprock Group LLC increased its stake in ENI by 3.9% during the third quarter. Caprock Group LLC now owns 9,025 shares of the oil and gas exploration company’s stock worth $279,000 after acquiring an additional 336 shares during the last quarter. GAMMA Investing LLC raised its holdings in ENI by 19.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,442 shares of the oil and gas exploration company’s stock valued at $75,000 after buying an additional 404 shares during the period. O Shaughnessy Asset Management LLC lifted its position in ENI by 0.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 58,884 shares of the oil and gas exploration company’s stock valued at $1,868,000 after buying an additional 470 shares during the last quarter. Gallacher Capital Management LLC boosted its stake in ENI by 3.3% during the second quarter. Gallacher Capital Management LLC now owns 15,726 shares of the oil and gas exploration company’s stock worth $484,000 after buying an additional 504 shares during the period. Finally, MML Investors Services LLC increased its position in shares of ENI by 7.6% during the third quarter. MML Investors Services LLC now owns 8,144 shares of the oil and gas exploration company’s stock valued at $247,000 after acquiring an additional 576 shares during the last quarter. Hedge funds and other institutional investors 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.