Energean (LON:ENOG) Shares Down 0.7% - Should You Sell?

Key Points

• Energean plc shares fell by 0.7% to GBX 882 ($11.75) amid an unusually high trading volume of over 30 million shares.
• Analysts at Jefferies Financial Group raised their target price for Energean from GBX 920 to GBX 940, maintaining a "hold" rating.
• Energean, engaged in oil and gas exploration, has a market capitalization of £1.63 billion and is heavily focused on its flagship Karish project in Israel.

Energean plc (LON:ENOG - Get Free Report) dropped 0.7% during mid-day trading on Tuesday . The stock traded as low as GBX 880 ($11.72) and last traded at GBX 882 ($11.75). Approximately 30,520,699 shares traded hands during mid-day trading, an increase of 4,223% from the average daily volume of 706,024 shares. The stock had previously closed at GBX 888.50 ($11.84).

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased their target price on Energean from GBX 920 to GBX 940 and gave the company a "hold" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Energean has a consensus rating of "Hold" and an average price target of GBX 940.

Energean Stock Down 0.7%

The firm has a 50 day moving average price of GBX 887.02 and a two-hundred day moving average price of GBX 884.30. The company has a quick ratio of 1.42, a current ratio of 1.31 and a debt-to-equity ratio of 498.55. The company has a market capitalization of £1.63 billion, a price-to-earnings ratio of 787.50 and a beta of 0.85.

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.

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