Energean (LON:ENOG) Trading Down 0.7% - Here's What Happened

Key Points

• Energean shares fell 0.7% to GBX 765 during mid-day trading, while volume surged to 10.7 million shares—more than nine times the average daily volume.
• Analyst sentiment is mixed: Stifel Nicolaus maintained a “buy” rating with a GBX 950 target, Jefferies kept an “underperform” rating at GBX 680, and Berenberg retained a “hold” rating at GBX 765. The consensus rating is “Hold,” with an average target of GBX 798.33.
• Company insiders bought 105,000 shares worth approximately $71.9 million over the past three months, and insiders own 19.66% of Energean’s stock.

Energean plc (LON:ENOG - Get Free Report) shares traded down 0.7% during mid-day trading on Tuesday . The company traded as low as GBX 757 and last traded at GBX 765. 10,701,103 shares changed hands during trading, an increase of 916% from the average daily volume of 1,053,290 shares. The stock had previously closed at GBX 770.50.

Wall Street Analyst Weigh In

ENOG has been the topic of several recent analyst reports. Stifel Nicolaus reaffirmed a "buy" rating and issued a GBX 950 price target on shares of Energean in a research note on Wednesday, May 20th. Jefferies Financial Group reissued an "underperform" rating and issued a GBX 680 price objective on shares of Energean in a research report on Thursday, May 21st. Finally, Berenberg Bank restated a "hold" rating and issued a GBX 765 target price on shares of Energean in a research note on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of GBX 798.33.

Energean Stock Down 0.7%

The company has a current ratio of 0.79, a quick ratio of 1.42 and a debt-to-equity ratio of 2,560.13. The business has a 50-day moving average price of GBX 736.20 and a 200-day moving average price of GBX 807.42. The firm has a market cap of £1.41 billion, a P/E ratio of -4.76 and a beta of 0.24.

Insider Buying and Selling

In other Energean news, insider Andreas Persianis acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average cost of GBX 755 per share, with a total value of £37,750. Also, insider Matthaios Rigas bought 50,000 shares of the company's stock in a transaction on Friday, June 19th. The shares were acquired at an average price of GBX 681 per share, for a total transaction of £340,500. Insiders acquired a total of 105,000 shares of company stock valued at $71,875,000 over the last three months. 19.66% 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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