Eni S.p.A. (NYSE:E) Sees Significant Decline in Short Interest

Eni S.p.A. (NYSE:E) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 892,600 shares, a drop of 5.3% from the October 15th total of 943,000 shares. Based on an average daily trading volume, of 248,900 shares, the days-to-cover ratio is currently 3.6 days. Approximately 0.1% of the company’s shares are sold short.

ENI Stock Up 0.9 %

Shares of NYSE:E opened at $29.96 on Tuesday. The business’s 50-day moving average is $30.74 and its 200-day moving average is $31.07. ENI has a 1 year low of $28.74 and a 1 year high of $34.30. The company has a market capitalization of $50.57 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.30 and a beta of 0.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 1.07.

Hedge Funds Weigh In On ENI

A number of institutional investors and hedge funds have recently modified their holdings of E. Natixis Advisors LLC lifted its position in shares of ENI by 12.8% during the 3rd 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 acquiring an additional 288,968 shares during the period. Marshall Wace LLP acquired a new stake in ENI in the second quarter worth $6,875,000. FMR LLC increased its stake in ENI by 33.5% in the third quarter. FMR LLC now owns 583,677 shares of the oil and gas exploration company’s stock valued at $17,691,000 after purchasing an additional 146,431 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of ENI during the second quarter valued at about $3,764,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of ENI during the 2nd quarter worth about $3,141,000. 1.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on E shares. Royal Bank of Canada upgraded shares of ENI from a “sector perform” rating to an “outperform” rating in a report on Monday, July 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of ENI in a report on Tuesday, October 15th. Morgan Stanley raised ENI from an “equal weight” rating to an “overweight” rating and set a $39.60 price target for the company in a research note on Thursday, August 29th. BNP Paribas raised 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 report on Monday, September 23rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.60.

ENI Company 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.