Energean (LON:ENOG) Given New GBX 780 Price Target at Berenberg Bank

Key Points

• Berenberg Bank raised Energean’s price target to GBX 780 from GBX 765, while maintaining a “hold” rating; the new target implies approximately 0.83% downside from the current share price.
• Analyst sentiment remains mixed, with one “buy” and two “hold” ratings. Energean has an average “hold” rating and a consensus price target of GBX 843.33.
• Energean shares opened at GBX 786.50, while insiders purchased 105,000 shares worth approximately £71.9 million over the past 90 days; insiders own 19.66% of the company.

Energean (LON:ENOG - Get Free Report) had its target price upped by Berenberg Bank from GBX 765 to GBX 780 in a note issued to investors on Friday, London Stock Exchange reports. The firm currently has a "hold" rating on the stock. Berenberg Bank's target price would indicate a potential downside of 0.83% from the stock's current price.

A number of other brokerages also recently weighed in on ENOG. Stifel Nicolaus reaffirmed a "buy" rating and issued a GBX 950 target price on shares of Energean in a research note on Wednesday, May 20th. Jefferies Financial Group boosted their price target on shares of Energean from GBX 680 to GBX 800 and gave the stock a "hold" rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of GBX 843.33.

Energean Stock Performance

Shares of ENOG opened at GBX 786.50 on Friday. Energean has a 12-month low of GBX 674.50 and a 12-month high of GBX 1,042. The company has a current ratio of 0.79, a quick ratio of 1.42 and a debt-to-equity ratio of 2,560.13. The company has a market cap of £1.45 billion, a PE ratio of -4.89 and a beta of 0.23. The stock has a 50-day moving average price of GBX 754.36 and a 200-day moving average price of GBX 799.82.

Insider Buying and Selling at Energean

In other news, insider Matthaios Rigas purchased 50,000 shares of the company's stock in a transaction on Friday, June 19th. The stock was purchased at an average price of GBX 681 per share, with a total value of £340,500. Also, insider Andreas Persianis acquired 5,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average price of GBX 755 per share, with a total value of £37,750. Insiders have bought 105,000 shares of company stock worth $71,875,000 over the last 90 days. Corporate insiders own 19.66% of the company's stock.

About Energean

Energean plc engages in the exploration, development, and production of oil and gas. It operates through four segments: Europe, Israel, Egypt, and New Ventures. The company holds interests in the Eastern Mediterranean. Its flagship project is the Karish project located in Israel. It also provides financing services; and holds a gas transportation license. The company was formerly known as Energean Oil & Gas plc and changed its name to Energean plc in May 2020. Energean plc was founded in 2007 and is based in London, the United Kingdom.

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