Energean (LON:ENOG) Stock Price Up 2.7% - Should You Buy?

Key Points

• Energean shares rose 2.7% on Tuesday, trading as high as GBX 780 and closing near GBX 778.50, well below the day’s average volume.
• Analysts remain mixed on the stock: Stifel reiterated a buy with a GBX 950 target, while Jefferies kept an underperform rating and Berenberg held at hold. Overall, MarketBeat shows an average rating of Hold with a GBX 798.33 price target.
• Recent insider buying may have supported sentiment, with two executives each purchasing 50,000 shares at GBX 681 per share. Energean operates oil and gas assets across the Eastern Mediterranean, including its flagship Karish project in Israel.

Shares of Energean plc (LON:ENOG - Get Free Report) were up 2.7% on Tuesday . The stock traded as high as GBX 780 and last traded at GBX 778.50. 160,702 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,109,318 shares. The stock had previously closed at GBX 758.

Analysts Set New Price Targets

ENOG has been the subject of a number of recent analyst reports. Stifel Nicolaus reaffirmed a "buy" rating and set a GBX 950 price target on shares of Energean in a report on Wednesday, May 20th. Jefferies Financial Group reiterated an "underperform" rating and issued a GBX 680 price objective on shares of Energean in a report on Thursday, May 21st. Finally, Berenberg Bank reissued a "hold" rating and issued a GBX 765 price objective on shares of Energean in a research report on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of GBX 798.33.

Energean Trading Up 2.7%

The firm has a market cap of £1.44 billion, a P/E ratio of -4.84 and a beta of 0.23. The business's 50 day moving average is GBX 755.82 and its 200-day moving average is GBX 831.90. 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.

Insider Buying and Selling at Energean

In related news, insider Matthaios Rigas bought 50,000 shares of the company's stock in a transaction dated Friday, June 19th. The stock was bought at an average price of GBX 681 per share, with a total value of £340,500. Also, insider Efstathios Topouzoglou bought 50,000 shares of the business's stock in a transaction dated Friday, June 19th. The stock was bought at an average price of GBX 681 per share, for a total transaction of £340,500. 19.63% of the stock is 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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