Eni SpA (NYSE:E) Shares Sold by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA has reduced its stake in Eni SpA by 38.8%, holding 17,959 shares worth $555,000 at the end of the latest reporting period.
• Multiple other large investors have adjusted their holdings in Eni, with Golden State Wealth Management LLC increasing its position by 100% in the first quarter.
• Brokerages have downgraded Eni's rating, with Kepler Capital Markets lowering it from "strong-buy" to "hold," reflecting a cautious outlook among analysts.

ABC Arbitrage SA decreased its position in shares of Eni SpA (NYSE:E - Free Report) by 38.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 17,959 shares of the oil and gas exploration company's stock after selling 11,401 shares during the period. ABC Arbitrage SA's holdings in ENI were worth $555,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in shares of ENI by 3.6% during the first quarter. PNC Financial Services Group Inc. now owns 29,069 shares of the oil and gas exploration company's stock valued at $899,000 after buying an additional 1,019 shares during the period. US Bancorp DE lifted its stake in shares of ENI by 15.1% during the first quarter. US Bancorp DE now owns 51,384 shares of the oil and gas exploration company's stock valued at $1,589,000 after buying an additional 6,753 shares during the period. Natixis Advisors LLC lifted its stake in shares of ENI by 21.9% during the first quarter. Natixis Advisors LLC now owns 2,779,073 shares of the oil and gas exploration company's stock valued at $85,957,000 after buying an additional 500,039 shares during the period. Cetera Investment Advisers lifted its stake in shares of ENI by 25.1% during the first quarter. Cetera Investment Advisers now owns 10,362 shares of the oil and gas exploration company's stock valued at $320,000 after buying an additional 2,077 shares during the period. Finally, Choreo LLC purchased a new position in shares of ENI during the first quarter valued at approximately $203,000. Hedge funds and other institutional investors own 1.18% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on E. Redburn Atlantic downgraded shares of ENI from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 23rd. Citigroup reaffirmed a "neutral" rating on shares of ENI in a research note on Friday, July 11th. Finally, Kepler Capital Markets downgraded shares of ENI from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $31.60.

ENI Trading Up 0.3%

Shares of ENI stock traded up $0.10 during trading hours on Friday, hitting $34.55. The company's stock had a trading volume of 174,960 shares, compared to its average volume of 246,321. Eni SpA has a 1-year low of $24.65 and a 1-year high of $34.95. The business has a fifty day moving average of $32.77 and a 200 day moving average of $30.31. The company has a market capitalization of $58.31 billion, a PE ratio of 21.32 and a beta of 0.95. The company has a quick ratio of 1.02, a current ratio of 1.18 and a debt-to-equity ratio of 0.37.

ENI (NYSE:E - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.12. ENI had a net margin of 2.84% and a return on equity of 8.53%. The company had revenue of $22.08 billion during the quarter, compared to analyst estimates of $23.54 billion. As a group, equities analysts forecast that Eni SpA will post 3.74 EPS for the current year.

About ENI

Eni SpA engages in the exploration, production, refining, and sale of oil, gas, electricity, and chemicals. It operates through the following segments: Exploration and Production, Global Gas and LNG Portfolio, Refining & Marketing and Chemicals, Power & Renewables, and Corporate and Other Activities.