Eni SpA $E Shares Bought by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC increased its position in Eni SpA by 1,165.9% during the first quarter, acquiring a total of 179,182 shares valued at approximately $5.54 million.
• Several hedge funds also boosted their stakes in Eni, with Natixis Advisors LLC raising its holdings by 21.9% and Massachusetts Financial Services increasing by 44.8%.
• Analysts currently have a consensus rating of "Hold" for Eni's stock, with an average price target of $31.60.

Cambiar Investors LLC lifted its stake in Eni SpA (NYSE:E - Free Report) by 1,165.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 179,182 shares of the oil and gas exploration company's stock after buying an additional 165,027 shares during the quarter. Cambiar Investors LLC's holdings in ENI were worth $5,542,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Golden State Wealth Management LLC increased its position in ENI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,202 shares of the oil and gas exploration company's stock valued at $37,000 after acquiring an additional 601 shares during the last quarter. Gallacher Capital Management LLC increased its position in ENI by 5.0% during the first quarter. Gallacher Capital Management LLC now owns 17,414 shares of the oil and gas exploration company's stock valued at $539,000 after acquiring an additional 829 shares during the last quarter. Janney Montgomery Scott LLC increased its position in ENI by 10.4% during the first quarter. Janney Montgomery Scott LLC now owns 9,936 shares of the oil and gas exploration company's stock valued at $307,000 after acquiring an additional 937 shares during the last quarter. PNC Financial Services Group Inc. increased its position in 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 acquiring an additional 1,019 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in ENI by 10.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 10,958 shares of the oil and gas exploration company's stock valued at $339,000 after acquiring an additional 1,043 shares during the last quarter. Institutional investors own 1.18% of the company's stock.

ENI Stock Up 1.2%

Shares of E stock traded up $0.4110 during mid-day trading on Wednesday, hitting $35.2510. 192,674 shares of the stock traded hands, compared to its average volume of 305,844. The stock has a market cap of $59.50 billion, a P/E ratio of 21.76 and a beta of 0.95. The stock's fifty day moving average is $33.40 and its two-hundred day moving average is $30.63. Eni SpA has a 52-week low of $24.65 and a 52-week high of $35.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.18 and a quick ratio of 1.02.

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

ENI Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 23rd will be issued a dividend of $0.5826 per share. The ex-dividend date is Tuesday, September 23rd. This represents a dividend yield of 440.0%. ENI's dividend payout ratio is 98.77%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Kepler Capital Markets cut shares of ENI from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Citigroup restated a "neutral" rating on shares of ENI in a report on Friday, July 11th. Finally, Redburn Atlantic cut shares of ENI from a "buy" rating to a "neutral" rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $31.60.

ENI Company Profile

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.