Energean (LON:ENOG) Stock Price Up 1.3% - Here's Why

Key Points

• Energean plc shares increased by 1.3%, closing at GBX 954.50 ($12.89) after trading as high as GBX 958 ($12.94), though trading volume was significantly down at 140,805 shares.
• Jefferies Financial Group raised their price target for Energean from GBX 920 to GBX 940, maintaining a "hold" rating, while the average rating for the stock remains a "hold" with a consensus target price of GBX 940.
• Insider transactions include a significant sale of 1.6 million shares by Panagiotis Benos at an average price of GBX 895, totaling £14.32 million, with corporate insiders holding 19.41% of the company's stock.

Energean plc (LON:ENOG - Get Free Report) shares were up 1.3% during trading on Friday . The stock traded as high as GBX 958 ($12.88) and last traded at GBX 954.50 ($12.83). Approximately 140,805 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 513,393 shares. The stock had previously closed at GBX 942 ($12.66).

Wall Street Analyst Weigh In

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

Energean Price Performance

The company's 50 day moving average price is GBX 927.41 and its 200 day moving average price is GBX 902.44. The company has a market cap of £1.68 billion, a price-to-earnings ratio of 901.49 and a beta of 0.85. The company has a debt-to-equity ratio of 498.55, a quick ratio of 1.42 and a current ratio of 1.31.

Insider Activity at Energean

In other news, insider Panagiotis Benos sold 1,600,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of GBX 895, for a total value of £14,320,000. 19.41% 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.