In a notable disclosure to the Securities and Exchange Commission (SEC), Private Advisor Group LLC significantly reduced its stake in Italian energy giant Eni SpA during the first quarter. This strategic divestment by the investment advisory firm involved the sale of 4,446 shares, marking a substantial 29.2% cut in its previous holdings in the global oil and gas exploration company.
Following this adjustment, Private Advisor Group LLC now holds 10,801 shares of Eni SpA stock. At the close of the most recent quarter, these remaining shares were valued at approximately $334,000, underscoring the firm’s re-evaluation of its investment portfolio in the current market environment for energy stocks.
Conversely, several other prominent hedge funds and institutional investors have demonstrated a growing interest in Eni’s equity, actively expanding their positions. Massachusetts Financial Services Co. MA, for instance, dramatically increased its holdings by 44.8% in the first quarter, acquiring an additional 125,413 shares to reach a total of 405,655 shares, valued at a substantial $12.5 million.
Further reinforcing this trend of increased institutional investing, Signaturefd LLC bolstered its Eni SpA shares by 6.8%, bringing their total to 27,982 shares worth $865,000. Bleakley Financial Group LLC also saw a 17.5% increase, now owning 20,051 shares valued at $620,000, while Callan Capital LLC made a significant leap with a 76.7% growth in its stake, holding 26,328 shares worth $814,000.
Meritage Portfolio Management showcased the most aggressive expansion, more than doubling its Eni SpA position with a 102.9% increase. This firm purchased an additional 76,170 shares, bringing its total to 150,200 shares valued at $4.6 million, highlighting a strong bullish sentiment from specific corners of the investment community regarding this major player in oil and gas.
Collectively, institutional investors now command 1.18% of Eni SpA’s stock, reflecting broad market participation. The company’s shares recently opened at $34.05, maintaining a robust market capitalization of $57.48 billion. Key financial metrics include a price-to-earnings ratio of 21.02 and a beta of 0.90, indicating its volatility relative to the broader market. The stock has traded between a one-year low of $24.65 and a high of $34.74, with recent trading around its fifty-day moving average price of $32.18 and a two-hundred day moving average price of $30.06.
From a balance sheet perspective, Eni SpA presents a debt-to-equity ratio of 0.35, alongside a current ratio of 1.16 and a quick ratio of 1.00, suggesting a healthy liquidity position for an energy sector company. These figures are crucial for financial analysis, offering insights into the company’s ability to meet its short-term and long-term obligations.
Research analysts have offered varied perspectives on Eni SpA, contributing to the financial discourse. Citigroup reiterated a “neutral” rating, while Redburn Atlantic and Kepler Capital Markets both downgraded the stock from “buy” to “neutral” and “strong-buy” to “hold” respectively. This collective analyst sentiment, based on marketbeat.com data, currently averages a “Hold” rating with a consensus target price of $31.60.
Eni SpA’s core operations span a diverse range within the energy sector, encompassing the exploration, production, refining, and sale of oil, gas, electricity, and chemicals. Its operational structure is segmented into Exploration and Production, Global Gas and LNG Portfolio, Refining & Marketing and Chemicals, Power & Renewables, and Corporate and Other Activities, showcasing its comprehensive involvement in the global energy landscape.
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