Jefferies Financial Group Forecasts Strong Price Appreciation for Energean (LON:ENOG) Stock

Key Points

• Jefferies raised Energean’s price target from GBX 680 to GBX 800 while maintaining a “Hold” rating, implying 1.46% upside from the prior close.
• Analyst sentiment remains mixed: Energean has one “Buy” and two “Hold” ratings, with an average target price of GBX 838.33.
• Company insiders have purchased 105,000 shares worth approximately $71.9 million over the past 90 days, and insiders currently own 19.66% of the stock.

Energean (LON:ENOG - Get Free Report) had its price target hoisted by analysts at Jefferies Financial Group from GBX 680 to GBX 800 in a research note issued to investors on Monday, London Stock Exchange reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 1.46% from the company's previous close.

ENOG has been the subject of a number of other research reports. Berenberg Bank reissued a "hold" rating and set a GBX 765 target price on shares of Energean in a research note on Wednesday, May 20th. Stifel Nicolaus reaffirmed a "buy" rating and issued a GBX 950 price target on shares of Energean in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of GBX 838.33.

Energean Stock Performance

Shares of ENOG stock opened at GBX 788.50 on Monday. The business has a 50-day simple moving average of GBX 744.20 and a 200-day simple moving average of GBX 801.68. The company has a quick ratio of 1.42, a current ratio of 0.79 and a debt-to-equity ratio of 2,560.13. The stock has a market cap of £1.46 billion, a PE ratio of -4.90 and a beta of 0.24. Energean has a 52-week low of GBX 674.50 and a 52-week high of GBX 1,042.

Insider Activity at Energean

In other news, insider Efstathios Topouzoglou bought 50,000 shares of the stock in a transaction that occurred on Friday, June 19th. The stock was bought at an average cost of GBX 681 per share, for a total transaction of £340,500. Also, insider Andreas Persianis acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average price of GBX 755 per share, with a total value of £37,750. In the last 90 days, insiders have bought 105,000 shares of company stock worth $71,875,000. 19.66% of the stock is currently owned by company insiders.

Energean Company Profile

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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