ENI (NYSE:E) Issues Earnings Results

ENI (NYSE:E) issued its earnings results on Thursday. The oil and gas exploration company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.09, Zacks reports. ENI had a net margin of 3.20% and a return on equity of 8.53%. The company had revenue of $24.33 billion during the quarter, compared to analyst estimates of $19.45 billion.

Here are the key takeaways from ENI’s conference call:

• Eni highlighted strong upstream execution — six major project start-ups in 2025 drove production growth (full-year 1.728 million b/d, ~2% above guidance), a >160% reserves replacement ratio and 500,000 b/d of production under development, plus ~900 million barrels discovered in 2025.
• Financial delivery was robust — CFFO €12.5bn (?€1.5bn ahead of plan), pro forma net CapEx <€5bn, net debt down ~€3bn with pro forma gearing ~14%, and the share buyback was increased from €1.5bn to €1.8bn.
• Transition businesses gained scale and market validation — Plenitude expanded renewables >40% in 2025, Enilive is adding biorefinery capacity (several FIDs and 2m tpa incremental), and Eni reported ~€2bn EBITDA from planned transition assets with third?party interest implying significant enterprise value.
• Industrial transformation faces near-term headwinds — weak chemical markets and low refinery utilization pressured results, prompting early cracker closures (Brindisi, Priolo) and a restructuring of Versalis whose benefits are expected to phase in over 12–18 months.
• 2026 guidance emphasizes disciplined capital allocation — gross CapEx ~€7bn, net CapEx ~€5bn, target pro forma gearing 10–15%, and management reiterates a funded, growing dividend with buybacks as a variable distribution tool; full plan to be detailed at the March Capital Markets Update.

ENI Stock Performance

Shares of NYSE:E traded up $1.27 on Friday, reaching $46.81. 632,996 shares of the company’s stock were exchanged, compared to its average volume of 339,469. ENI has a twelve month low of $24.65 and a twelve month high of $46.95. The company has a fifty day moving average of $40.33 and a 200-day moving average of $37.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.98 and a current ratio of 1.16.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on E. JPMorgan Chase & Co. downgraded ENI from an “overweight” rating to an “underweight” rating in a research note on Friday, December 5th. Citigroup restated a “neutral” rating on shares of ENI in a report on Tuesday, November 4th. Erste Group Bank raised shares of ENI to a “strong-buy” rating in a research report on Wednesday, February 18th. Wall Street Zen downgraded shares of ENI from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ENI in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, ENI presently has an average rating of “Hold” and a consensus target price of $34.60.

Hedge Funds Weigh In On ENI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in shares of ENI by 0.6% during the 4th quarter. Morgan Stanley now owns 3,019,566 shares of the oil and gas exploration company’s stock worth $114,562,000 after purchasing an additional 16,671 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in ENI by 2.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,353,911 shares of the oil and gas exploration company’s stock valued at $51,367,000 after buying an additional 38,688 shares during the period. Raymond James Financial Inc. raised its position in shares of ENI by 6.3% in the 3rd quarter. Raymond James Financial Inc. now owns 541,031 shares of the oil and gas exploration company’s stock valued at $18,909,000 after buying an additional 32,107 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of ENI by 44.9% during the 2nd quarter. Quantinno Capital Management LP now owns 202,792 shares of the oil and gas exploration company’s stock worth $6,575,000 after acquiring an additional 62,834 shares during the period. Finally, GQG Partners LLC boosted its position in shares of ENI by 24.4% during the 4th quarter. GQG Partners LLC now owns 175,726 shares of the oil and gas exploration company’s stock worth $6,667,000 after acquiring an additional 34,426 shares in the last quarter. 1.18% of the stock is owned by institutional investors and hedge funds.

More ENI News

Here are the key news stories impacting ENI this week:

• Positive Sentiment: Q4 beat and strong revenue: Eni reported $0.87 EPS vs. $0.78 expected and revenue of $24.3B vs. $19.45B consensus, signaling upside to analyst estimates and supporting near?term earnings momentum. MarketBeat Press Release
• Positive Sentiment: Production and profits rising: Adjusted net profit jumped ~35% year/year and oil & gas production rose >7%, driven by six new projects — supports cash generation and upstream outlook. Reuters: 35% rise
• Positive Sentiment: Strategic progress and capital returns: Management highlighted 4% production growth in 2025, >160% reserves replacement, near?100% exploration success, a major JV with Petronas, Plenitude renewables expansion and increased buybacks funded by capex efficiency — a multi?pronged value?creation story. Seeking Alpha: Strategic Progress
• Positive Sentiment: Venezuela exposure eased: With U.S. sanctions relaxed, Eni can now accept oil as payment for gas and is exploring JVs with U.S. firms — this unlocks previously trapped receivables and potential incremental barrels. Reuters: Venezuela payment
• Neutral Sentiment: Earnings call transcript available for detail: The Q4 earnings call transcript provides management color on production drivers, capex guidance and buyback sizing — useful for modeling but not new headline news. Seeking Alpha: Earnings Transcript
• Neutral Sentiment: Local/regulatory watch — Cyprus meeting: Eni’s CEO met Cyprus leadership on the Kronos project decision, a local permit/regulatory outcome to monitor for regional project timing but currently unresolved. Cyprus Mail: Kronos meeting

ENI Company Profile

ENI S.p.A. is an integrated energy company headquartered in Rome, Italy, founded in 1953 as a state-established hydrocarbon entity and later transformed into a publicly traded multinational. The firm’s activities span the full hydrocarbon value chain and extend into power generation and low?carbon energy solutions. ENI maintains a long history in exploration and production, engineering and project development, and downstream operations that include refining, petrochemicals and retail fuel distribution.

Core businesses include upstream exploration and production of oil and natural gas, midstream and liquefied natural gas (LNG) handling, and downstream refining and marketing of petroleum products and lubricants.