Energean (LON:ENOG) Shares Break Above Fifty Day Moving Average - What's Next?

Key Points

• Energean shares rose above their 50-day moving average of GBX 751.26, reaching GBX 759 before last trading at GBX 756 on volume of more than 11 million shares.
• Analyst sentiment remains cautious: Jefferies raised its target to GBX 800 and Berenberg lifted its target to GBX 780, but both maintained Hold ratings. The consensus rating is Hold, with an average target price of GBX 843.33.
• An insider, Andreas Persianis, purchased 5,000 shares at GBX 755, while insiders collectively own 19.62% of Energean. The company has a £1.40 billion market capitalization and operates oil and gas assets across Europe, Israel, and Egypt.

Shares of Energean plc (LON:ENOG - Get Free Report) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of GBX 751.26 and traded as high as GBX 759. Energean shares last traded at GBX 756, with a volume of 11,031,381 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ENOG shares. Jefferies Financial Group raised their target price on shares of Energean from GBX 680 to GBX 800 and gave the company a "hold" rating in a report on Monday, September 7th. Berenberg Bank boosted their price target on shares of Energean from GBX 765 to GBX 780 and gave the stock a "hold" rating in a report on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of GBX 843.33.

Energean Trading Down 1.2%

The firm has a market cap of £1.40 billion, a PE ratio of -6.63 and a beta of 0.23. The company has a current ratio of 0.80, a quick ratio of 1.42 and a debt-to-equity ratio of 1,571.48. The business has a fifty day moving average price of GBX 751.26 and a 200 day moving average price of GBX 805.23.

Insider Transactions at Energean

In related news, insider Andreas Persianis bought 5,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average price of GBX 755 per share, with a total value of £37,750. 19.62% 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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