Eni SpA (NYSE:E) Short Interest Down 39.0% in August

Eni SpA (NYSE:E) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 831,799 shares, a drop of 39.0% from the July 30th total of 1,364,063 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 315,855 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

E has been the topic of a number of research analyst reports. Erste Group Bank downgraded shares of ENI from a “buy” rating to a “hold” rating in a report on Thursday, June 25th. Wall Street Zen raised shares of ENI from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research upgraded shares of ENI from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded shares of ENI from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.30.

ENI Price Performance

ENI stock traded up $0.62 during trading hours on Tuesday, hitting $55.42. The stock had a trading volume of 482,528 shares, compared to its average volume of 455,131. ENI has a 1-year low of $34.03 and a 1-year high of $58.00. The stock has a market capitalization of $93.55 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.24 and a beta of 0.39. The stock’s fifty day moving average is $51.64 and its two-hundred day moving average is $51.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.05.

ENI (NYSE:E) last released its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. ENI had a return on equity of 11.27% and a net margin of 6.51%.The business had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $27.93 billion. As a group, analysts predict that ENI will post 5.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ENI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in E. DV Equities LLC purchased a new stake in shares of ENI in the fourth quarter valued at about $35,000. Manchester Capital Management LLC increased its stake in shares of ENI by 56.8% during the 4th quarter. Manchester Capital Management LLC now owns 1,206 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 437 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of ENI during the 3rd quarter worth approximately $47,000. Larson Financial Group LLC raised its position in shares of ENI by 37.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,387 shares of the oil and gas exploration company’s stock worth $48,000 after purchasing an additional 378 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of ENI during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 1.18% of the company’s stock.

About ENI

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.