Cubist Systematic Strategies LLC Decreases Holdings in Eni SpA $E

Key Points

• Cubist Systematic Strategies LLC significantly reduced its holdings in Eni SpA by 75.4% during the first quarter, leaving it with 27,007 shares, worth $835,000.
• Several other institutional investors increased their stakes in Eni, with Golden State Wealth Management LLC growing its position by 100.0%.
• Eni plans to pay a quarterly dividend of $0.5814 per share on December 5th, reflecting an annualized yield of 6.7% and a high payout ratio of 98.77%.

Cubist Systematic Strategies LLC lowered its stake in shares of Eni SpA (NYSE:E - Free Report) by 75.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,007 shares of the oil and gas exploration company's stock after selling 82,604 shares during the period. Cubist Systematic Strategies LLC's holdings in ENI were worth $835,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of ENI by 2.1% during the 1st quarter. Royal Bank of Canada now owns 69,243 shares of the oil and gas exploration company's stock worth $2,141,000 after purchasing an additional 1,420 shares during the last quarter. Vident Advisory LLC increased its stake in shares of ENI by 28.1% during the 1st quarter. Vident Advisory LLC now owns 35,230 shares of the oil and gas exploration company's stock worth $1,090,000 after purchasing an additional 7,734 shares during the last quarter. Harvest Portfolios Group Inc. increased its stake in shares of ENI by 11.4% during the 1st quarter. Harvest Portfolios Group Inc. now owns 64,284 shares of the oil and gas exploration company's stock worth $1,988,000 after purchasing an additional 6,572 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of ENI during the 1st quarter worth approximately $222,000. Finally, SVB Wealth LLC purchased a new stake in shares of ENI during the 1st quarter worth approximately $78,000. Hedge funds and other institutional investors own 1.18% of the company's stock.

ENI Price Performance

Shares of E traded up $0.20 during mid-day trading on Monday, reaching $35.07. 172,166 shares of the stock traded hands, compared to its average volume of 230,376. The firm has a fifty day moving average price of $34.50 and a 200 day moving average price of $31.47. The company has a market cap of $59.20 billion, a price-to-earnings ratio of 21.65 and a beta of 0.96. The company has a current ratio of 1.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. Eni SpA has a 1 year low of $24.65 and a 1 year high of $35.94.

ENI (NYSE:E - Get Free Report) last posted 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 analysts' consensus estimates 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 the consensus estimate of $23.54 billion. As a group, equities research analysts predict that Eni SpA will post 3.74 earnings per share for the current year.

ENI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Tuesday, November 25th will be issued a $0.5814 dividend. This represents a $2.33 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Tuesday, November 25th. ENI's dividend payout ratio is presently 96.91%.

Wall Street Analysts Forecast Growth

E has been the subject of a number of recent research reports. Zacks Research lowered shares of ENI from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Citigroup reiterated a "neutral" rating on shares of ENI in a research note on Friday, July 11th. Kepler Capital Markets lowered shares of ENI from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Royal Bank Of Canada lowered shares of ENI from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, September 2nd. Finally, Morgan Stanley set a $34.60 price objective on shares of ENI in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $34.60.

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.