Energean (LON:ENOG) Shares Down 3.9% - Here's What Happened

Key Points

• Shares fell 3.9% intraday to GBX 854.50 (low GBX 848.50) with only 248,610 shares traded, a 69% decline versus average session volume, after a prior close of GBX 889.
• Berenberg cut its price target on Energean from GBX 855 to GBX 780 and kept a "hold" rating; the stock's consensus rating is "Hold" with an average target of GBX 855.
• Energean shows very high leverage (debt-to-equity 543.63) with a market cap of £1.57 billion and a P/E of 7.63, and the shares are trading below both their 50-day (GBX 886.78) and 200-day (GBX 899.20) moving averages.

Energean plc (LON:ENOG - Get Free Report)'s share price fell 3.9% during trading on Wednesday . The company traded as low as GBX 848.50 and last traded at GBX 854.50. 248,610 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 806,292 shares. The stock had previously closed at GBX 889.

Analysts Set New Price Targets

Separately, Berenberg Bank decreased their price target on shares of Energean from GBX 855 to GBX 780 and set a "hold" rating for the company in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of GBX 855.

Energean Price Performance

The company has a 50-day moving average of GBX 886.78 and a 200-day moving average of GBX 899.20. The company has a debt-to-equity ratio of 543.63, a quick ratio of 1.42 and a current ratio of 0.51. The stock has a market cap of £1.57 billion, a price-to-earnings ratio of 7.63 and a beta of 0.21.

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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