Bank of America Corp DE Sells 179,254 Shares of Eni SpA $E

Key Points

• Bank of America reduced its ENI position by 20.4% in the first quarter, selling 179,254 shares and retaining 701,374 shares valued at approximately $39.7 million.
• ENI reported quarterly earnings of $1.76 per share, exceeding analyst expectations of $1.66, although revenue of $25.87 billion fell short of the $27.93 billion consensus estimate.
• Shares opened at $54.78, near their 52-week high of $58.00. Analysts maintain a consensus “Moderate Buy” rating, with a reported target price of $42.30.

Bank of America Corp DE decreased its position in shares of Eni SpA (NYSE:E - Free Report) by 20.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 701,374 shares of the oil and gas exploration company's stock after selling 179,254 shares during the quarter. Bank of America Corp DE's holdings in ENI were worth $39,705,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership purchased a new position in shares of ENI during the 1st quarter valued at approximately $63,334,000. Natixis Advisors LLC grew its stake in ENI by 5.3% in the 4th quarter. Natixis Advisors LLC now owns 3,279,164 shares of the oil and gas exploration company's stock worth $124,411,000 after acquiring an additional 165,454 shares during the period. Capital Wealth Planning LLC grew its holdings in ENI by 109.7% during the 4th quarter. Capital Wealth Planning LLC now owns 306,408 shares of the oil and gas exploration company's stock worth $11,962,000 after acquiring an additional 160,324 shares in the last quarter. Arosa Capital Management LP bought a new stake in ENI in the fourth quarter valued at about $4,173,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of ENI by 16,704.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 92,422 shares of the oil and gas exploration company's stock worth $3,506,000 after acquiring an additional 91,872 shares in the last quarter. 1.18% of the stock is owned by institutional investors and hedge funds.

ENI Stock Performance

E opened at $54.78 on Friday. The company has a market cap of $92.47 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 0.25 and a beta of 0.39. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Eni SpA has a 52-week low of $34.03 and a 52-week high of $58.00. The firm's 50-day moving average price is $50.74 and its 200-day moving average price is $50.74.

ENI (NYSE:E - Get Free Report) last released its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.10. The business had revenue of $25.87 billion for the quarter, compared to analyst estimates of $27.93 billion. ENI had a net margin of 6.51% and a return on equity of 11.27%. As a group, equities analysts anticipate that Eni SpA will post 5.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on E shares. BNP Paribas Exane upgraded shares of ENI from a "neutral" rating to an "outperform" rating and set a $64.30 price objective for the company in a research note on Friday, April 17th. Erste Group Bank cut ENI from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. Weiss Ratings upgraded ENI from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, August 3rd. Zacks Research upgraded ENI from a "strong sell" rating to a "hold" rating in a research report on Monday. Finally, Wall Street Zen upgraded ENI from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.30.

ENI Profile

ENI S.p.A. is an integrated energy company headquartered in Rome, Italy, founded in 1953 as a state-established hydrocarbon entity and later transformed into a publicly traded multinational. The firm's activities span the full hydrocarbon value chain and extend into power generation and low‑carbon energy solutions. ENI maintains a long history in exploration and production, engineering and project development, and downstream operations that include refining, petrochemicals and retail fuel distribution.

Core businesses include upstream exploration and production of oil and natural gas, midstream and liquefied natural gas (LNG) handling, and downstream refining and marketing of petroleum products and lubricants.

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